(EFE) .- Greece will have to adopt “contingency measures” to be applied only if the country deviates from its fiscal commitments as a requirement to reach an agreement with its creditors in order to close the first revision of the third rescue, allowing disbursements and treat debt.
“the conclusion is that the agreement should go with a package of contingency will only be implemented if necessary “, announced today the Eurogroup chairman Jeroen Dijsselbloem, the end of the informal meeting of ministers of Economy and Finance in Amsterdam.
This new package of contingency measures” must be credible, legislated in advance, objective and automatic “added Dijsselbloem, who said the measures should amount to 2% of Greek GDP.
He also holds Dutch Finance said it is now necessary to work on design of these contingency measures to determine which ones require Athens, which will take effect.
The European Commissioner for Economic and Financial Affairs, Pierre Moscovici, said that these measures will be implemented “if needed “and now must” work on the legal accurately and how to implement them. “
Dijsselbloem also said that both the Greek minister, Euclid Tsakalotos, and institutions that form the quadriga -the European Commission, the European Central Bank (ECB), the International Monetary Fund (IMF) bailout fund and eurozone (ESM) – plan to work in the coming days “as fast as possible”
work will also continue to finalize the package of measures discussed for weeks with Greece , which includes tax reforms and pension point where all parties ensured that has been significant progress.
thus, he said that could hold an extraordinary Eurogroup on Thursday to address the issue.
the IMF managing director, Christine Lagarde, expressed his welcomed the “broad and strong support” in the Eurogroup to require Athens contingency measures, and warned that to meet the requirements of their institution “have to be legislated in advance, credible and automatically apply” if it reaches the case.
the Eurogroup president also said his colleagues have given a mandate to work can even begin to discuss measures to alleviate debt Greece , which is start analyzing the issue and “possibilities” will be prepared.
denied that remove applied and stressed that will see if a restructuring and measures such as lengthening again maturity period is necessary.
Lagarde confirmed that either an acquittal believes necessary, but warned that the IMF is fundamental “be clear” about the sustainability of Greek debt, as a prerequisite to decide whether to participate in the third rescue as they want partners Europeans.
the managing director said it could work in a restructuring with several instruments, which applies “when needed once the measures are met” under discussion “and realistic predictions” about the table.
Both the French member of the ECB Benoit Coure as the CEO of the ESM, Klaus Regling, said their institutions share the predictions of the European Commission, which expects 2018 Greece fulfill its commitment to a 3.5% primary surplus
However, Regling said: “we must admit that the future is uncertain in two years, so I think that identify contingencies is an extra guarantee in case anything happens. “
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