| Series Title | Kathimerini |
|---|---|
| Series Details | 02.05.17 |
| Publication Date | 02/05/2017 |
| Content Type | News |
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Greece and its foreign creditors reached an agreement on 2 May 2017 on a package of bailout-mandated reforms, allowing for the conclusion of the second review of the third economic adjustment programme. The deal includes labour and energy reforms as well as pension cuts and tax rises. Negotiations lasted for half a year mainly due to a disagreement between the European Union and the International Monetary Fund over fiscal targets. The measures needed to be legally adopted by the country before Eurozone finance ministers approved the disbursement of loans. The Greek opposition stated it was not going to support the package of measures. An IMF official stated that, despite the agreement on a reform package, Europe still needed to provide 'credible' debt relief to Greece before the organisation can provide more funding. This agreement had already been hinted at by the Eurozone president during a hearing in late April 2017. IMF Managing Director Christine Lagarde said on the 12 May 2017 that the IMF and eurozone government lenders needed more time to reach an agreement on debt relief for Greece because the eurozone was still not sufficiently clear in its intentions. |
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| Source Link | Link to Main Source http://www.ekathimerini.com/218055/article/ekathimerini/news/pledging-more-austerity-greece-cuts-deal-with-lenders |
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| Countries / Regions | Europe, Greece |
