Greece Needs Short-Term, Future Reforms to Begin Economic Negotiations

BRUSSELS (Sputnik) – The Greek government needs to commit to more reforms in the future, but also short-term reforms in order to begin negotiations for the country’s economic bailout program, Member of the European Commission in charge of Economic and Financial Affairs, Taxation and Customs Pierre Moscovici said Sunday.

“And the view of the [European] institutions is that if the Greek government commits to more reforms in the future, if it commits also to now implement reforms on the short-term, then there is the basis for a possible opening for negotiations for a program,” Moscovici said upon arriving for a Eurogroup session in Brussels.

He said the Eurogroup was to meet today in order to prepare decisions of the heads of states and governments from the eurozone who will meet in the afternoon later in the day.

“I hope that we will prepare that this morning and that this afternoon decisions will be taken because what I think the world expects is a Greece which is strongly reformed but inside the Eurozone,” Moscovici added.

On July 5 referendum, the Greeks voted against economic reforms demanded by the country’s creditors in exchange for further aid, fueling fears that the country may default on its debt.

On Thursday, Athens presented a revised plan that includes some of the creditors' requirements, including tax cuts and pension reforms.

During the talks on Saturday, the eurozone finance ministers failed to decide on whether to start discussions on further financial aid to Greece.