WROCLAW, Poland (MNI) – Ratification of the agreed new powers for
the European Financial Stability Facility by the 17 member states of the
euro area should be finished by early October, EU Economic and Monetary
Affairs Commissioner Olli Rehn said here Thursday evening.
“The ractification of the EFSF is a work in progress in the member
countries. I trust that it will be concluded by the end of September or
early October,” Rehn told reporters.
Asked about the pending issue collaterals for the new Greek loans,
demanded by Finland, Rehn said talks on that subject are ongoing and it
would be “very important to get it off the agenda” in order to
concentrate on getting the new Greek bailout plan finalized.
He said he expected Greece to get the next installment of its aid
loan, worth E8 billion, from the bailout deal signed in May 2010. It has
been held up, like loan installments before it, because of Greece’s
difficulty meeting the fiscal targets on which the loan is conditioned.
“It is my understanding that Greece will implement the fiscal
measures and restrucutural reforms in order to get the…tranche,” he
said.
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