| Author (Corporate) | Eurogroup |
|---|---|
| Series Title | Meeting |
| Series Details | 09.03.15 |
| Publication Date | 09/03/2015 |
| Content Type | News |
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The Eurogroup meeting on the 9 March 2015 discussed the next steps following the decision in February 2015 to extend the financial assistance to Greece by up to four months beyond its original expiry date of 28 February 2015. The political agreement on the extension was taken by the Eurogroup on 24 February and later approved by a number of national parliaments in the euro area and by the European Financial Stability Facility (EFSF), which provides the assistance. The formal decision on the extension was taken on 27 February 2015. Greece agreed with eurozone partners that talks would start in Brussels on the 11 March 2015 between Greece and its creditors (IMF, ECB and European Commission) and these would be accompanied by visits to Athens from technical officials from the three institutions (to allay Greek sensitivity over the work of the Troika). ---------------------------- The Eurogroup was also given an update on the ongoing 6th review of the macroeconomic adjustment programme in Cyprus. One of the requirements of the programme was the implementation of an effective foreclosure framework, which would allow banks to manage their bad loans and improve lending to the real economy. Ministers were also briefed by the European Commission on the implementation of the draft budgetary plans, focusing on those that were deemed at risk of non-compliance with the Stability and Growth Pact. The agenda also included a thematic discussion on the reform of services in the euro area. |
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| Source Link | Link to Main Source http://www.consilium.europa.eu/en/meetings/eurogroup/2015/03/09/ |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Cyprus, Europe, Greece |
