The Greek government has successfully negotiated its way through the fiscal labyrinth at Thursday’s Eurogroup meeting securing an agreement with creditors that unlocks its next bailout tranche, totalling 8.5 billion euros. The Eurogroup also agreed to extend the maturities for Greece’s loan payments between 0 and 15 years.
The managing director of the International Monetary Fund Christine Lagarde said on Thursday she will propose to the Fund’s board the approval of a standby arrangement for Greece.
“I would like to announce my intention to propose to the IMF’s Executive Board the approval in principle (AIP) of a new IMF stand-by arrangement for Greece. We have recently seen significant progress by the Greek government on policy reforms, with a staff-level agreement followed by supportive legislation from the Greek Parliament. We have also seen progress on debt relief, although further discussions are needed on the scope and type of measures to be provided by Greece’s European creditors,” she said in a statement after the meeting.
Eurogroup President Jeroen Dijsselbloem said this deal is an important step and congratulated the institutions, the Greek authorities but “most importantly” the Greek people for their sacrifices.
Greece’s Prime Minister Alexis Tsipras hailed the negotiation results as a decision that acknowledges the sacrifices of the Greek people.
“Today Greece is turning a page. We have an agreement that corresponds to the sacrifices of the Greek people. With unity and determination we move forward for fair growth and the healing of the wounds of the crisis’’ he said.
Good on you greece ,keep up the good work. congratulations to the prime minister tsipiras and his committee.
greece will always live on.