Moscovici urges Greece to stick to bailout reforms

Moscovici urges Greece to stick to bailout reforms

Greece needs to stick to reforms to regain credibility and earn further debt relief, EU Economic Commissioner Pierre Moscovici said during a visit to Athens on Monday.

Moscovici said his visit was "a message of trust," noting that Athens had made significant progress in reforming its economy, and that the possibility of leaving the eurozone currency was no longer on the table.

"It is time for normality, it is time for stability, it is time for implementation and it is time for investment," Moscovici said after meeting Greek Prime Minister Alexis Tsipras.

"That doesn't mean that everything is done. We still have a way to go and there are discussions taking place and the need to complete some milestones for the first review and also to discuss the so-called second review."

Greece's second bailout review, which includes unpopular labor reforms, is expected to begin in the autumn.

Moscovici said Greece should work closely with its international lenders – the European Union and the International Monetary Fund – and show ownership of the reforms prescribed in its third international bailout, for Europe to "be in a very good position to discuss, especially with the IMF, debt relief measures".

He was to meet Finance Minister Euclid Tsakalotos later in the day and address lawmakers.


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