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Athens Macedonian News Agency: News in English, 16-05-24
CONTENTS
[01] FinMin Tsakalotos: Agreement marks "the beginning of Greece's exit
from recession"
[01] FinMin Tsakalotos: Agreement marks "the beginning of Greece's exit
from recession"
Today's Eurogroup agreement will mark the beginning of Greece's exit from
the foul cycle of economic recession, Finance Minister Euclid Tsakalotos
said early on Wednesday in Brussels, following the conclusion of the
Eurogroup meeting.
"We reached an agreement after 11 hours of negotiations," he said, both
for the completion of Greece's program review and for the disbursement
of the related loan installment. "We hoped for an installment of 9 to
11 billion euros - the final amount is 10,3 billion euros," he added,
noting that part of the loan was earmarked to repay outstanding debts
of the state.
In terms of the debt agreement, Tsakalotos noted that some measures would
be implemented in the short term following the completion of the review
and the disbursement of the installment, up to the end of the program. He
added there is an agreement for measures on a mid-term level which will
be detailed further in 2018 (they are now known in outline only) and an
agrement to implement long-term measures as well.
"It is an important point in time for Greece, following a long time,"
the minister said. Last summer's agreement called for talks on the debt
after the completion of the program review, he said, while there is a
"comprehensive package" now.
"There is ground now to allow us to be optimistic that this is the
beginning of the reversal of the foul cycle in which Greece has fallen,
with recession and measures, and that the country will enter a virtuous
cycle with the return of investors," he said.
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