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Greece and the EU are still struggling to find common ground

Eurozone inspectors are set to return to Greece for an overdue review of the country's implementa...
Newstalk
Newstalk

12.44 8 Mar 2016


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Greece and the EU are still st...

Greece and the EU are still struggling to find common ground

Newstalk
Newstalk

12.44 8 Mar 2016


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Eurozone inspectors are set to return to Greece for an overdue review of the country's implementation of the economic reforms that it agreed to when accepting its most recent bailout.

Eurogroup head and Dutch finance minister, Jeroen Dijsselbloem said that both parties had found "enough common ground" for the inspectors to return to Athens.

"We stressed that more work needs to be done, more effort needs to be put in for there to be a good outcome," he said after yesterday's meeting of eurozone finance ministers.

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He added that the Greek government has work to do to secure a favourable review, failure to do so could result in demands for new reforms.

"There are still fiscal gaps to be filled and some of the reforms will have to be deepened," Mr Dijsselbloem added.

Prime Minister Alexis Tsipras leads a small parliamentary majority, which has struggled to introduce reforms. Pensions have proved to be a sticking point, last month the country faced a general strike as workers registered their opposition to proposed pension cuts.

The reforms would lower the maximum pension from €2,700 to €2,300 - and change the minimum to €384.

Mr Dijsselbloem confirmed that a successful review would pave the way for negotiations to reduce Greece's debt burden.

The country's next repayment is due to the European Central Bank in July.


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