German, French FinMins: Greek economy on track to completing 4th review

Greece’s prospects for the future are good, as it is on track for the fourth review and exiting the loan program, the Finance Ministers of Germany Olaf Scholz and France Bruno Le Maire said at a press conference on Friday.

Following the end of an EU Economic and Financial Affairs Council meeting, Scholz said, “There is a rather good development in the Greek economy, which is important for exiting the program,” and the June 21 Eurogroup meeting will determine the steps for that.

On his part, Le Maire noted that “we have seen some important progress,” and said the institutions “count on the Greek government to take the last steps so that we can complete the fourth review at the end of June.”

The French FM expressed his certainty that “the right compromise” would be reached by all EU member-states on Greece’s debt reduction. Following the completion of the fourth review, he noted, “it would be time to define a way to have a good debt treatment for Greece, which has to be clear, reliable and understandable for the markets.”