ATHENS (Sputnik) — EU Commissioner on Economic and Financial Affairs Pierre Moscovici positively assessed the Greek implementation of memorandum with international creditors, in which Athens pledged to carry out wide-ranging austerity measures in exchange for financial support, a source in the Greek Government said Tuesday.
"Pierre Moscovici spoke very positively about the cooperation between Greece and the creditors. He was confident that the agreement on the open issues will be reached and expressed optimism about the progress and completion of the Greek program," the source said.
In August, Greece's International creditors, including the International Monetary Fund, the European Central Bank and some eurozone nations approved a third bailout package for debt-ridden Greece, worth €86 billion ($94.8 billion), in exchange for additional reforms and austerity measures such as pension cuts and tax hikes.
The Greek economy has been badly strained for several years amid the country’s multibillion debt accumulated after the 2008 world economic crisis