BRUSSELS (MNI) – The European Commission ratcheted up the pressure
on Athens to meet the terms of its EU-IMF bailout loan Thursday, saying
the ball was now in Greece’s court.
It is now up to Greek authorities to take the necessary actions to
“close the fiscal gap that has emerged both because of some lack of
implementation and lower growth,” said EU Economic and Monetary Affairs
Commissioner Olli Rehn.
“It is essential that in the very short term Greece meet its fiscal
targets and fill in the implementation gaps,” Rehn said at a Commission
briefing in Brussels. This is needed to give Greece’s partners the
confidence they need to support Greece’s conditional aid, he said.
While recognising that Greece has taken “some very important
decisions that go a long way to meeting its fiscal targets this year”,
the EU Commissioner said that “it is now essential they go all the way.”
Eurozone finance ministers meeting in Poland this week will be
discussing Athens’ latest policy measures, he said.
Rehn also called on Portugal and Ireland, which are also receiving
financial assistance from the EU and IMF, as well as other countries
“facing particular pressure from markets” to stick to their fiscal
consolidation targets and take additional actions if needed.
Italy should focus on structural reforms to liberalize its economy
he said, in response to questions from Italian journalists.
–Brussels newsroom +32495228374 pkoh@marketnews.com
[TOPICS: MT$$$$,M$$CR$,M$X$$$,M$I$$$,M$Y$$$,MGX$$$]
