–Originally Transmitted Sunday at 10:30 EST
FRANKFURT (MNI) – Following is the full text of the statement
released Sunday by the European Central Bank in response to the economic
and financial adjustment programme approved earlier in the day by the
Greek government:
“The Governing Council of the European Central Bank (ECB) welcomes
the economic and financial adjustment programme which was approved today
by the Greek government following the successful conclusion of the
negotiations with the European Commission, in liaison with the ECB, and
the International Monetary Fund.
“The ambitious fiscal adjustment and comprehensive structural
reforms under the programme are appropriate to achieving the programme’s
objectives of stabilising the fiscal and economic situation over time
and addressing the fiscal and structural challenges of the Greek
economy. The programme is comprehensive and supported by strong
conditionality. It addresses the relevant policy challenges in a
decisive manner. It will thereby help to restore confidence and
safeguard financial stability in the euro area. The Governing Council
also considers essential that the Greek public authorities stand ready
to take any further measures that may become appropriate to achieve the
objectives of the programme.”
–Frankfurt bureau tel.: +49-69-720142. Email: dbarwick@marketnews.com
[TOPICS: M$X$$$,M$$EC$,MT$$$$,M$$CR$,MGX$$$]
