As Greece had taken its obligations “absolutely seriously”, the decision of the eurozone finance ministers on Thursday to grant the country more money was justified. Yet the principal of the loan should not be reduced, Finance Minister Toomas Tõniste said.
“The discussions were intense, but everyone wanted an agreement to be reached, and it was reached as well. The progress noted in the report of the second review of the Greek aid program gives us confidence that the country has taken its obligations fully seruiously. We must not forget, however, that the aid program should end already next year and much remains to be done,” Tõniste said in a press release on Thursday.
“When it comes to the decisions specifically concerning debt, the actual review of the debt will begin after the end of the program. To Estonia it is important that any easing of debt will not affect the principal. The linking of the interest and deadlines to actual economic development seems to be a sensible solution, but its exact content is yet to emerge,” Tõniste added.
The eurogroup meeting on Thursday agreed to complete the second review of the Greek aid program, and to make the next instalment of the group’s loan in the amount of €8.5 billion available to Greece.
Editor: Dario Cavegn