In Greece, called the Eurogroup decisions are a positive signal for the markets

© RIA Novosti / Samosatene. Archival photoIn Greece, called the Eurogroup decisions are a positive signal for the markets© RIA Novosti / Som

The government of Greece received on the Eurogroup meeting everything I wanted, the decisions are a positive signal for markets, told reporters the representative of the Cabinet of Ministers.

The Eurogroup gave a positive assessment of the second course of reforms in Greece and approved the allocation of tranche of 8.5 billion euros. The Finance Ministers of Eurozone countries agreed with the possibility of extending the repayment term loans.

«The Greek side got what they wanted. There is a radical change compared to the Eurogroup decision of may 22,» said the official.

The government has allocated eight points. «The main point of today’s decision, for the first time there is a clear commitment of the Eurogroup to support Greece’s exit on the financial markets and successful completion of a programme of assistance with the creation, in fact, significant liquidity reserves to support the country’s transition to markets», — said the representative office.

«Second, adopted the French proposal for the reservation of development that has been the consistent position of the Greek government in the negotiations in 2015», — said the representative of the government.

It is assumed that measures to reduce debt will depend on economic development.

According to him, the French proposal actually brings together the different assessments of the IMF and the European institutions of the prospects of the Greek economy and thus ensure debt sustainability after the Eurogroup takes commitment that measures to reduce debt will vary with changes in growth. «At the same time, this makes the European partners in allies with the purpose of development as the more will grow the Greek economy, the less will decrease the debt,» — said the representative of the government office.

Thirdly, according to him, the decision on the grace period and extend for 15 years the term «maturation» of the bonds (the term after which there is their repayment — ed.) and possibly longer if they are not achieved high rates of economic growth.

«It was also established that the primary surplus will amount to 2% after 2023 and an average of about 2% to 2060. Then provides reducing primary and below 2%»,- he said.

In addition, a commitment on the package of development projects from the European funds that will provide high growth prospects of the Greek economy in the medium term (2018-2022). The Eurogroup agreed with the request of the government on the establishment of development banks. Was given a positive assessment by the IMF on debt sustainability in contrast to the assessment of 22 may, when the IMF believed that the Greek debt is not on the road to sustainability, officials have listed the main points of solutions.

«Finally, it was decided to issue tranche more than the financial needs of the Greek state that will allow for late payments (companies) in the amount of about 1.6 billion euros,» — said the official.

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