the country has done a very good job and could be financed again himself, said Euro Group boss Jeroen Dijsselbloem after a meeting of euro zone finance ministers in Brussels on Monday. The multibillion dollar aid program expires at the end of the month. Part of the payments provided in view is Nicosia therefore not eligible. For Greece, however, major problems
Cyprus are still unresolved from the perspective of euro zone finance ministers. Was preserved in the spring of 2013, with the help of international donors to bankruptcy. Around 10 billion euros of potential loan assistance came against reform commitments from the euro partners and the International Monetary Fund (IMF), investors and investors had to contribute to the rescue with a compulsory levy.
Many of the implemented reforms led Cyprus back on a way sustainable growth, as Dijsselbloem said. Nicosia merely took 6.5 billion euros in aid to complete, the country’s prospects are now much better. After Portugal, Spain and Ireland this was the fourth successful Euro-utility, said the chief of the euro bailout fund ESM, Klaus Regling. There
Outstanding issues for the euro zone finance ministers still facing Greece. In recent weeks, however, sufficient progress had been made at the expert level, that representatives of the donors could still travel this week to Athens, Dijsselbloem said. You should therefore conclude the review of the Greek reform plans. Implement
The government in Athens has in return for an aid package totaling up to 86 billion euros extensive reforms. Recently there have been
“We need a credible and sustainable pension reform and the budget needs in the medium term fall into place,” Dijsselbloem said.
The implementation of the reform program to check (ECB), the International Monetary Fund (IMF), the European Commission and the European Central Bank. Only after a successful check new billion can be paid. An exact date for it is not yet clear. From the output of these checks, the question of possible further debt relief for the crisis-ridden country depends.
If the next tranche of the program, which Greece has agreed last year with the creditors, the country could be noisy Regling soon again fall into financial difficulties.
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