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Athens News Agency: News in English, 10-08-19

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

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

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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