Eurogroup Ministers Approve Fifth Tranche Of Greek Loan Facilit
2011-07-04 15:15:15
Eurogroup Ministers approved the disbursement of the fifth tranche of the current Greek Loan Facility by 15 July following approval by the IMF Board. The Ministers endorsed the Commission's Compliance Report and the signing of the updated Memorandum of Understanding.
Eurogroup Ministers welcomed the progress made by the Greek authorities in implementing the policy understandings reached with the European Commission. The Ministers noted with satisfaction the adoption of key laws on the fiscal strategy and privatisation by the Greek Parliament.
Ministers agreed that the main parameters of the multi-year adjustment programme for Greece will revolve around a continued strong commitment to implementing fiscal consolidation measures as well as concrete structural reform and privatisation plans.