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Athens Macedonian News Agency: News in English, 14-10-16

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Katainen: Europe will continue to assist Greece

  • [01] Katainen: Europe will continue to assist Greece

    ANA-MPA -- European Commissioner for Economic and Monetary Affairs Jyrki Katainen on Thursday indicated that the EU will continue to support Greece and ensure "reasonable financing conditions" after the end of the current programme.

    Katainen's written statement is as follows:

    "Greece has made immense progress in creating a basis for a sustainable growth model, based on sound public finances, a more competitive economy and a robust, effectively supervised financial sector.

    This unprecedented programme of reforms and the necessary large fiscal adjustment have entailed very difficult choices. The Commission and the euro area as a whole have stood by Greece throughout this process. While there is a clear need to maintain the momentum of reform, there is strong evidence that the country has now turned a corner.

    There should be no doubt that Europe will continue to assist Greece in whatever way is necessary to ensure reasonable financing conditions for the Greek state and to smooth the path back to full and sustainable market access.

    To that end we will cooperate very closely with the Greek authorities to complete the current review, which will require a comprehensive package of ambitious reforms to be agreed. We will work to ensure a smooth evolution of European support for the country after the end of the current programme. We will support Greece in reassuring lenders and financial markets of the ongoing firm commitment to reform and to the maintenance of budgetary targets, including a strong and adequate fiscal buffer."

    Katainen's spokesman Simon O' Connor, when asked to comment on the Commissioner's statement, said that "there are concerns" and that is why the Commission felt it was important to clarify its position on Greece.

    Regarding what would follow after the end of the current programme, O' Connor said that talks would take place at the end of autumn between the Greek authorities, the Commission, the IMF and also between the Eurozone member-states and Athens.

    Asked about the sustainability of Greece's debt, he said that the Commission's estimates that this will become sustainable in the medium-term and that this was a main precondition for Greece to receive financial aid.


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