Commission: Greece package to focus on sustainable finances, reforms


A package Greece has agreed on with its international lenders will focus on sustainable finances and reforms, leading to a medium term primary surplus of 3.5 percent, the European Commission said on Friday.

To reach the medium term target, Greece agreed to a primary surplus of 0.25, 0.5, 1.75 and 3.5 percent between 2015 and 2018, the Commission added in a statement issued together with other international creditors.

"The credibility of the agreement is underpinned by a significant number of upfront reforms," the Commission said, listing revenue collection, pensions and health systems as some of the government sectors to be reformed. [Reuters]