20 октября 2012 13:06

Eurozone leaders see 'good progress' in Greece: statement

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Eurozone leaders on Friday hailed Greece's achievements in carrying out reforms aimed at getting its economy back on track and urged Athens to keep up efforts to stay in the eurozone, AFP reports. "Good progress has been made to bring the adjustment programme back on track," a statement by the leaders of the 17-nation bloc said. "We expect Greece to continue budgetary and structural policy reforms and we encourage its efforts to ensure swift implementation of the programme," they added. On Wednesday, the so-called 'troika' of international lenders said it hoped for a deal "within days" on resuming much-needed financial aid to Greece in return for making headway on economic reforms. Greece's conservative-led government is in talks with the troika on an austerity package needed to unlock a loan payment of 31.5 billion euros ($41.1 billion). The payment, which has been pending since June, is a part of 230 billion euros in loans offered to the heavily-indebted eurozone country. Eurozone finance ministers, whose next scheduled meeting is on November 12, "will examine the outcome of the review in light of the troika report and will take the necessary decisions," the statement said. The reforms "will allow Greece to achieve renewed growth and will ensure its future in the euro area," leaders added.


Eurozone leaders on Friday hailed Greece's achievements in carrying out reforms aimed at getting its economy back on track and urged Athens to keep up efforts to stay in the eurozone, AFP reports. "Good progress has been made to bring the adjustment programme back on track," a statement by the leaders of the 17-nation bloc said. "We expect Greece to continue budgetary and structural policy reforms and we encourage its efforts to ensure swift implementation of the programme," they added. On Wednesday, the so-called 'troika' of international lenders said it hoped for a deal "within days" on resuming much-needed financial aid to Greece in return for making headway on economic reforms. Greece's conservative-led government is in talks with the troika on an austerity package needed to unlock a loan payment of 31.5 billion euros ($41.1 billion). The payment, which has been pending since June, is a part of 230 billion euros in loans offered to the heavily-indebted eurozone country. Eurozone finance ministers, whose next scheduled meeting is on November 12, "will examine the outcome of the review in light of the troika report and will take the necessary decisions," the statement said. The reforms "will allow Greece to achieve renewed growth and will ensure its future in the euro area," leaders added.
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