Economy World

Greece: the conclusion of the new loan agreement is “historic” (Papademos)

Greek Prime Minister Lukas Papademos called “historic” the loan agreement between the EU and Greece, which was approved Monday by the Eurogroup (meeting of finance ministers of the euro area), Greek television reported on Tuesday.

“This day is of historic importance for the Greek economy,” said the prime minister during a press briefing in Brussels.

M.Papademos has also found it necessary to immediately begin to implement the austerity program to provide funding for the countries in the future and the cancellation of its debts.

“It will do much more to fulfill the requirements for the conclusion of the loan agreement, which is expected in early March,” said the Prime Minister.

The Eurogroup has given the green light Monday on granting state aid of 130 billion euro in Greece and the partial cancellation of its debts.

The International Monetary Fund (IMF), a major creditor of Athens, will discuss its participation in European aid in early March.

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