Eurogroup chief Jeroen Dijsselbloem warned on Thursday that more needs to be done to wrap up the third bailout review by the end of the year. Addressing the European Parliament’s Committee on Employment and Social Affairs, the Dutch official expressed optimism however that the deadline will be met.
“We should not let the time lapse again,” he said, reminding that delays in the completion of the second bailout review had a direct impact on the growth rate. “The third review is going well, but certainly more has to be done,” he added.
The committee’s discussion focused on employment, with Dijsselbloem saying that although the jobless rate remains high in Greece, there is a clear improvement. He noted that Greece has implemented many labor reforms in the context of the bailout program, in order to render the Greek economy more competitive and the labor market more flexible, and to correct “imbalances.”
“Labor issues certainly are a delicate and sensitive matter,” said Dijsselbloem, explaining that there is a need to observe social rights while the attractiveness of the market must also improve. “I believe reforms to date in Greece have been a good compromise,” he stated.