Wednesday, Oct 22, 2014Wednesday, Oct 22, 2014
Business
 

Euro zone to honour Greece debt pledge, insists on conditions

Published on May 6, 2014 5:58 AM
 
Vice President of the European Commission Olli Rehn (left), President of the Eurogroup an Finance Minister of the Netherlands Jeroen Dijsselbloem (centre) and President of the European Central Bank Mario Draghi (right) give a press conference of the Eurogroup as part of the Informal Meeting of Ministers for Economic and Financial affairs at the Zappion Hall in Athens on April 1, 2014. -- FILE PHOTO: AFP

BRUSSELS, Belgium (AFP) - Euro zone member states will honour a 2012 pledge to help Greece manage its crushing debt mountain but Athens must first meet conditions set, Dutch Finance Minister Jeroen Dijsselbloem said on Monday.

At the same time, any debt review will come only later this year after Greek efforts to live up to its rescue programme commitments and put the economy and banks back on track are assessed, Mr Dijsselbloem said after a meeting of the 18 eurozone finance ministers.

Euro zone nations “reaffirm their commitment to provide adequate support until Greece regains full market access, provided Greece fully complies with the requirements and objectives of the adjustment programme,” the ministers said in a statement.

“The relative merits of possible debt sustainability measures, as stated (in November 2012) will be considered in the context of the next review,” it added.

 
If you are not a subscriber, you can get instant, unlimited access here

Videos