Eurogroup happy with progress

During a Eurogroup meeting on Friday in Denmark, eurozone finance ministers expressed satisfaction with the application of the Greek reform program and the effort being made for the implementation of the timetable set for March and April.

The ministers appeared happy about the fact that the measures needed are to be passed before the general election in Greece, expected to take place in early May.

The Greek Finance Ministry announced that Minister Filippos Sachinidis had informed his peers about the progress of the reform program that was recently approved and of the debt swap, known as PSI. The ministers discussed the participation of holders of Greek bonds written under foreign law, which has not gone according to plan to date.

This is why the head of the Eurogroup, Jean-Claude Juncker, issued a statement yesterday encouraging bondholders to accept the offer for the swap by Wednesday, saying that the exchange ?is in the interest of all stakeholders,? and that they will not get a better offer than that which Athens is making.

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