02:03France: Moscovici touts impact of latest Greek debt relief talks
European Commissioner for Economic and Financial Affairs Pierre Moscovici addressed MEPs at the European Parliament plenary session in Strasbourg on Tuesday, following Monday's Eurogroup meeting on the Greek economy.
Moscovici said it was "one of the best" meetings so far with regards to the macroeconomic adjustment programme for Greece. He went on to outline what is currently taking place "especially the recapitalisation of four big banks" as well as "reform of the taxation system." He added that a strategy is needed to solve "the difficult question of non-performing loans" and in order agree "on the parameters of establishing a privatisation fund."
Eurozone finance ministers met on Monday in Brussels and agreed to grant Greece debt relief by providing longer grace periods and bond maturities as of 2018 under the precondition that country adopts all reforms agreed under its latest bailout.
Greece and its creditors now have until May 24 to reach an agreement that will see bailout funds unlocked and debt relief begin.
02:03European Commissioner for Economic and Financial Affairs Pierre Moscovici addressed MEPs at the European Parliament plenary session in Strasbourg on Tuesday, following Monday's Eurogroup meeting on the Greek economy.
Moscovici said it was "one of the best" meetings so far with regards to the macroeconomic adjustment programme for Greece. He went on to outline what is currently taking place "especially the recapitalisation of four big banks" as well as "reform of the taxation system." He added that a strategy is needed to solve "the difficult question of non-performing loans" and in order agree "on the parameters of establishing a privatisation fund."
Eurozone finance ministers met on Monday in Brussels and agreed to grant Greece debt relief by providing longer grace periods and bond maturities as of 2018 under the precondition that country adopts all reforms agreed under its latest bailout.
Greece and its creditors now have until May 24 to reach an agreement that will see bailout funds unlocked and debt relief begin.