Greece can make it with agreed reform plan-euro zone

Reuters
June 8, 2011

Greece will be able to return to fiscal sustainability if it strictly implements economic and financial policies agreed with the EU, the IMF and the European Central Bank, euro zone finance ministers said in a statement.

The statement follows discussion by ministers from the 17 countries using the euro, called the Eurogroup, on the conclusions of a report on Greece by a mission of the International Monetary Fund, the ECB and the European Commission, called the Troika.

"A Eurogroup conference call took place this afternoon to exchange views on the assessment of the Troika following the conclusion of its fourth review mission to Greece," the statement said.

"The Eurogroup welcomed the staff-level agreement with the Greek authorities on a set of economic and financial policies needed to meet the program objectives," the statement said.

"We share the view expressed by the Troika that strict implementation will help restore fiscal sustainability, safeguard financial stability and boost competitiveness," it said.

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