Sunday, July 19, 2015

Germany to Strictly Monitor Greece’s Bailout Measures Implementation

German Chancellor Angela Merkel

© REUTERS/ Fabrizio Bensch
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Greece's Gordian Knot: Syriza Tackles Austerity (326)
German Chancellor Angela Merkel said that "everything was destoryed" in Greece and Berlin will strictly monitor the implementation of all austerity measures in Greece.
BERLIN (Sputnik) — Berlin will rigorously observe the implementation of austerity measures in Greece, which were prerequisite under the agreement with EU leaders to solve the country’s debt issue, German Chancellor Angela Merkel said Sunday. On Monday, the eurozone leaders reached an agreement on a third bailout package for Greece. Under the deal, the Greek government must implement unpopular austerity measures, including pension reforms and VAT increases, in exchange for resuming the provision of liquidity to Greek banks and for the beginning of a new aid program to rescue the economy.
"We will strictly monitor the implementation of all measures under our proposal. At the beginning of the year, there has been some progress, but now everything has been destroyed," Merkel told the German ARD television channel in an interview. On Wednesday night, the Greek Parliament voted in support of a new package of bailout measures, paving the way for more financial aid from its international creditors through the European Support Mechanism (ESM).
On Friday, the Bundestag voted in favor of renewed negotiations with Athens over a $95-billion three-year loan by a majority.

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