Estonian PM Taavi Rõivas said on Monday that Eurozone leaders agreed a road map with Greece, with reforms, cuts and deadlines as preconditions for supporting the country with a third bailout.
“Trust is a resource that wears thin easily, but is arduously renewable. Estonia, like many other European countries, cannot accept solutions that would result in writing off debts or launching guarantees. It was jointly understood among the heads of government that the basis of further steps would be Greece’s strong, comprehensive and long-term commitment to carry out reforms and comply with obligations,” said Rõivas.
“After very serious and thorough negotiations we agreed on a long list of steps, each with deadlines, which Greece must implement before we can even begin talks over a new bailout,” he said.
Eurozone leaders met for a record 19 hours straight from Sunday until early on Monday. European Council President Donald Tusk said at 10:00 on Monday that a consensus has been reached.
The agreement, although currently yet to be approved by Greek Parliament and the parliaments of a number of Eurozone countries, would leave Greece in the single currency area. Greece will have to push through a decrease in VAT exceptions, pension reform, court reform, update legislation on banks and guarantee the independence of the nation's statistics office.
Rõivas said all EU leaders agreed that the referendum, which saw Greeks vote against further EU austerity demands, increased insecurity about the troubled nation's future.
He said much remains to be done and only effective and convincing steps by Greece would provide the basis for moving forward.
Editor: J.M. Laats