Dijsselbloem welcomes start of negotiations on support for Greece

Eurogroup President Jeroen Dijsselbloem i has welcomed the fact that the steps needed to open the way for negotiations on financial support to Greece have been taken. These steps are a follow-up to the agreement reached by the Eurozone i countries and the Greek government last Monday. Eurogroup President Dijsselbloem said: "This agreement offers a chance to put the Greek economy back on track."

Last Wednesday the Greek parliament agreed on measures needed to stabilize and improve the current economic and financial situation in Greece. Today the Board of Governors of the European Stability Mechanism (ESM) entrusted the negotiations on a Memorandum of Understanding (MoU) to the European Commission in cooperation with ECB and IMF. This MoU will contain in principle the details of the conditions attached to a three-year loan from the European Stability Mechanism.

The decision of the Board of Governors followed the successful completion of the procedures required from national parliaments. Greece is granted bridge-financing for the coming weeks. Eurogroup President Dijsselbloem, who also chairs the ESM Board, said that the steps taken over the last few days should gradually restore trust between the Eurozone countries and Greece: "It's not going to be easy. We are certain to encounter problems in the years to come. But I believe we will be able to resolve them."