Brussels, 15/09/2011 (Agence Europe) - The troika, which brings together those providing money for Greece, could be finished “by the end of September”, European Economic Affairs Commissioner Olli Rehn said on Thursday 15 September.
Last weekend, the Greek government took some very important decisions to meet the budgetary objectives set for this year, Rehn said. He went on to state that it was now essential that Greece should meet these objectives and succeed in convincing its partners, so that a decision can be taken in time by the eurozone and the International Monetary Fund before the next funding difficulties appear.
On Friday 16 September, there is expected to be discussion in the Eurogroup on the measures taken by Greece. If these measures are felt to be convincing, the inspection team could return to Athens and complete its work by the end of September, but only on condition that the Greeks meet all the conditions necessary for the exercise to be completed, Rehn stated.
After that, payment of the sixth tranche of the first rescue plan might be possible, the commissioner said. “And we will be able to continue to work on the new programme which will contain a private sector contribution”, he added.
The “troika”, made up of the European Commission, the European Central Bank and the International Monetary Fund, providing money for Greece, left the country unexpectedly at the start of the month when it was supposed to authorise or refuse payment of the next tranche of international loans which Greece desperately needs to avoid bankruptcy. This tranche, the sixth, forms part of the first bail-out plan from 2010. A second aid plan, which contains a contribution from the private sector, was prepared by European leaders on 21 July but has yet to be put into practice. (LC/transl.rt)