MOSCOW (Sputnik) — Last week, the Eurogroup reached an agreement on a new bailout package for Greece, with $95 billion to be given to the country over the next three years in exchange for economic reforms. An initial austerity package has been approved by the Greek government.
“We have agreed to lighten the interest burden,” Moscovici told the French RMC Radio, adding that it could only be done after a well-thought Greek development program is agreed upon.
The European Union needs Greece in the euro area, and should help the country in reviving its economy, Moscovici stressed.
“We must find the balance between the European solidarity and the Greek responsibility," Moscovici said, adding that it must have taken Greek Prime Minister Alexis Tsipras a lot of courage to accept the challenge of the third bailout package.
On Monday, Greece started its partial repayments to its international money lenders, the European Central Bank (ECB) and the International Monetary Fund (IMF).
On Wednesday, Greece’s parliament is due to vote on the second bill of reforms necessary to secure the third bailout package. The final Greece-EU agreement will be signed after the sides agree upon technical details.
