"[The Greek parliament's backing] is a crucial step forward toward the adoption of the second program"
- Olli Rehn, EU Economic and Monetary Affairs Commissioner
Germany and the European Commission welcomed Greek approval of additional austerity measures required to secure a 130 billion euro bailout from international lenders.
The Greek parliament's backing "is a crucial step forward toward the adoption of the second program," EU Economic and Monetary Affairs Commissioner Olli Rehn said on Monday. "I'm confident that the other conditions, including for instance the identification of the concrete measures of 325 million euros, will be completed by the next meeting" of finance ministers.
The vote in Athens "shows the will and the readiness of the Greeks to undertake major efforts of their own, including tough cuts to put their country on a good path," Steffen Seibert, German Chancellor Angela Merkel's chief spokesman said. "Greece's European partners welcome this; certainly Germany does."
© Dukascopy Bank