Greece remains in the eurozone for now. Negotiations are still ongoing
The summit of heads of state and government of 19 eurozone countries decided to leave Greece in the community “on the basis of an agreement reached with Athens on the fulfillment of obligations to creditors.”
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TASS reports this with reference to a source on the sidelines of the meeting.
“Mutual understanding has been reached on the start of a third aid program for Greece, which guarantees the country’s preservation in the eurozone,” he said.
The diplomat especially emphasized that the third program will be implemented “strictly in stages, as Greece implements its budgetary measures.”
The first step that Athens must take to fulfill its obligations will be “the adoption by parliament of structural reforms agreed with the institutions by July 14.” We are talking about six bills, including pension and tax reforms, including a revision of the VAT system.
After this, on Wednesday, the next meeting of the Eurogroup will take place, which will confirm the launch of the third three-year lending program for Greece. If for any reason this does not happen, the third program will be disrupted.
“This will ensure that the necessary level of confidence in Greece is restored,” he said.
According to preliminary information, the volume of the third three-year assistance program for Greece from the IMF and the eurozone will amount to 90 billion euros in the form of concessional loans. Meanwhile, this information is of a purely preliminary nature - negotiations to clarify all the details of the program are still to come.
Earlier it was reported that if Greece does not reach an agreement with creditors by the end of the day on July 12, it will be asked to temporarily leave the eurozone.
Greece remains in the eurozone for now. Negotiations are still ongoing.