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Monday 24.07.2017 | Name days: Krista, Kristiāna, Kristiāns, Kristīne

Europe reaches agreement in regard to a new bailout plan for Greece

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RULeaders of Eurozone have reached an agreement in regard to a new bailout plan to save Greece, as confirmed by European Council President Donald Tusk.

«EuroSummit has unanimously reached agreement. All ready to go for ESM programme for Greece with serious reforms & financial support,» – Tusk wrote on his Twitter profile.

On Monday, Eurozone leaders assessed options for reaching an agreement on the resolution of the Greek crisis after setting Athens an ultimatum to either implement harsh austerity measures or become the first country to exit Eurozone.

Donald Tusk mentioned during the conference that this decision offers Greece a chance to avoid social and political backlash that would appear as a result of a negative outcome.

Many Eurozone leaders warn that this is only a plan for the agreement – they are still dissatisfied with Greece’s attitude expressed during the last six-month long negotiations.

«Europe has made a decision in regard to guidelines. Now everything depends on the realization,» – says Estonian Prime Minister Taavi Reivass.

As it is known, European finance ministers agreed to set multiple strict requirements for Greece in talks regarding a new bailout plan. Among other things, Athens have been ordered to adopt half of the promised reforms by Wednesday, 15 July.

On Sunday, 12 July, Latvian Prime Minister Laimdota Straujuma mentioned during a meeting of Eurozone leaders that the Greek government has to demonstrate actions that would demonstrate how reforms are being realized. «We have looked at Greece’s offers. Promises are not enough, however. We want to see action and we want to see it now,» – said Straujuma.

Conditions Eurozone has presented Greece have become even stricter than the ones that were declined during the referendum in Greece.

According to Straujuma, Greece’s promises can no longer be trusted. This is why the only option for Greece to regain that trust is to immediately secure the realization of reforms in pension system, employment and privatization.

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