Moscovici repeats conviction that Greece and institutions ‘not far’ from concluding 2nd review

Commissioner for Economic and Financial Affairs Pierre Moscovici on Monday repeated his conviction that Athens and the European institutions were “not far” from being able to conclude the second review of Greece’s adjustment programme.

Moscovici was speaking in the European Parliament in Brussels, during a discussion with MPs and MEPs on the upcoming six months in Europe.

Moscovici said the European Commission wants to work with Greek authorities for a conclusion of the second review as soon as possible and desires a resolution of the debt issue. He also noted that Greece was “a source of concern” for the Commission, which was doing its utmost to keep the country in the Eurozone.

The Commission “supports the integrity of the Eurozone,” he added, noting the need for comprehensive solutions and a “reformed Greece with growth and jobs.”

The convergence of Eurozone economies was very important for its stability and impetus, he said and admitted that the divergence of economies was a problem. For this reason, he added, the European Commission wanted to address the issue of macroeconomic imbalances and urged the countries with sufficient fiscal margins, such as Germany and the Netherlands, to make use of them.