Moscovici: “No time to lose” in preparing Greece’s completion of fiscal programme

EU Finance Commissioner Pierre Moscovici urged before the start of Monday’s Eurogroup that “there’s no time to lose” in planning the successful completion of Greece’s fiscal adjustment programme.

In statements before the start of the meeting, Moscovici noted that the final deal for Greece’s exit from the programme was expected to be set at the June 21 Eurogroup, only “a hundred days away.”

The programme’s third review is complete and institutions are already working on the fourth review, he reiterated, adding that it is necessary to accelerate in order to have a successful programme completion.

The EU commissioner mentioned that the outstanding issues include Greece’s debt reduction, Greece’s post-programme strategy of development which it will present by Easter (“made by Greece for Greece,” as he noted) and which its partners will confirm, and the supervision of the country’s fiscal matters following the programme’s completion.

This is not related to any fourth adjustment programme, he noted, stressing that the fiscal adjustment programmes “must end for Greece, (the country) must return to normalcy in the heart of the eurozone.”