Commissioner Moscovici confident Eurogroup will reach solution on Greece

Arriving for the European Stability Mechanism (ESM) board meeting here on Thursday, European Commissioner for Economic and Financial Affairs Pierre Moscovici said he was confident that Eurozone finance ministers will arrive at an agreement on Greece that will send the necessary signal of confidence and credibility to the markets.

“Greece has fulfilled its obligations, the implementation of the measures has been completed,” he said, again urging Greece’s partners to “assume their responsibilities”.

“This means that we must be in a position to conclude the review, clearing the way for disbursement. This will happen in the next weeks, since it is a matter of procedures. Also, we must include a more comprehensive strategy for Greece’s return to growth. The Commission is ready to put into effect all the tools that will allow the support of growth because the Greek people have suffered greatly and must feel that the partners are at their side,” Moscovici said.

The Commissioner noted the progress made in the last weeks, saying this justified his optimism that an agreement will be reached. “We have done a lot of work with the Greek side and all the other sides and I believe we have the parameters of an agreement. It has not happened yet but I believe that all the sides today, including the International Monetary Fund (IMF) because we need it, are ready for an agreement,” he added.

The markets must get the message that Greece is implementing reforms and therefore has credibility, Moscovici concluded, and also that the Eurozone has a common will to support growth and solve the debt issue in “a more positive way.”