Finland Times

 

Photo AFP – Lehtikuva

European Union officials on Tuesday approved the extension aid program for Greece, considering the list of Greece reform measures to be sufficiently comprehensive.

     

Commenting on the list of Greece reform measures arriving yesterday, European Commission Vice-President for the Euro and Social Dialogue Valdis Dombrovskis said those measures are deemed sufficiently comprehensive to be a valid starting point for the successful conclusion of the review.

     

"Following  Eurogroup teleconference decision national procedures for extension of the Greek programme can begin," Dombrovskis said.

     

In a statement released by Eurogroup,eurozone ministers discussed the first list of reform measures presented by the Greek authorities on Tuesday, saying they agreed to proceed with the national procedures with a view to reaching the final decision on the extension by up to four months of the current Master Financial Assistance Facility Agreement.

     

Eurogroup and Greece on last Friday agreed on a final agreement over the bailout extension by four months, such agreement would bridge the time for discussions on a possible follow-up arrangement between the Eurogroup, the institutions and Greece.

     

According to the EU, the contents of Greece reform measures are the commitment to combat tax evasion and corruption, as well as to pursue reforms to modernise the public administration.  

     

However, another international lender showed concerns over Greek reform proposal.

     

International Monetary Fund President Christine Lagarde said in a letter exposed by media, that such measures are not specific enough, adding that the letter from Greek authority is not conveying clear assurances that the government intends to undertake the reforms measures in some important areas.

     

"it's important for me to emphasize that for the discussion on a completion of the review to be successful they cannot be confined within the policy perimeters outlined in the government's list," she said.

     

Eurogroup also called on the Greek authorities to further develop and broaden the list of reform measures, based on the current arrangement, in close coordination with the institutions in order to allow for a speedy and successful conclusion of the review.