Eurogroup urges Greece to press ahead with reforms

Monday, September 18th, 2017
Last Update: 12:55

Euro zone finance ministers took stock of the state of play in Greece’s program at their meeting on Friday, urging Greece to press ahead with the remaining reforms attached to the third program review.

The Eurogroup head suggested that the aim is for a conclusion of the review by year-end, a target also endorsed by the Greek FinMin.

The latter downplayed concerns about new measures that might be required for 2018, arguing that the outperformance in the proceeds from VAT will offset the shortfall from direct taxation.

The Greek Minister of Finance commented on some press reports that cite the need from new measures in 2018 (mainly tax measures)and said that he does not believe that extra fiscal measures should be implemented in 2018 but this will be known and decided in November.

Against this background, euro zone finance ministers were critical of the ongoing legal battle against the former head of ELSTAT, emphasizing the negative connotation this carries for investors.

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