Athens News Agency: News in English, 10-08-19
CONTENTS
[01] Commission OKs second loan tranche
[01] Commission OKs second loan tranche
BRUSSELS (ANA-MPA) -- The European Commission on Thursday officially
announced that Greece has fulfilled conditions to receive the second
installment of loans by eurozone member-states.
According to the announcement, the EU evaluated the measures the Greek
government has imposed so far, in line with decisions taken at a
ministers' council on May 10 to curtail the country's excessive
deficit.
The Commission cites a positive result on the whole as opening the way
for the disbursal of the second tranche of emergency loans, adding that
it believes member-states will approve the second installment.
(ANA-MPA)
"Greece has managed impressive budgetary consolidation during the first
half of 2010 and has achieved swift progress with major structural
reforms," Economic & Monetary Affairs Commissioner Olli Rehn said here,
while nevertheless warning: "The main immediate challenge is to
safeguard adequate liquidity and financial stability of the banking
sector. At the same time, the structural reform agenda needs to be
pressed ahead to unleash the huge potential for raising growth."
(ANA-MPA)
According to EU the fiscal development in the first half of 2010 were
positive and the deficit fell by 46 percent, quicker than foreseen in
the state budget. (ANA-MPA)
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