Eurogroup: Main results
EU News 195/2015
Ministers held a follow up discussion on the agreement negotiated at the Eurogroup and the Euro Summit over the last two days, following the request by Greece for financial assistance from the European Stability Mechanism, submitted on 9 July 2015.
On 13 July the euro area leaders agreed on a set of measures to be implemented before the formal negotiations on a new ESM programme can begin.
The President briefly presented the next steps that are expected to be taken according to the agreement:
- By Wednesday (15 July) Greece is expected to implement the first set of measures outlined in the Euro Summit statement
- Then the national procedures, which are necessary for authorising the start of negotiations on the programme, would begin
- Following the national procedures, the Eurogroup will be able to give the institutions a mandate to start negotiations with the Greek authorities on a new Memorandum of Understanding
- In parallel to the negotiations the Greek authorities will continue implementing the agreed measures
- The final formal decision on the ESM programme would then be taken.
The Eurogroup decided to set up an ad-hoc working group of experts which will explore all possible options and will report later this week. The Eurogroup will then hold a conference call on this issue to decide on the next steps.
Source and additional information:
Eurogroup meeting - July 2015. From left to right: Mr Wolfgang SCHAUBLE, German Federal Minister for Finance; Mr Pierre GRAMEGNA, Luxembourg Minister of Finance; Mr Jeroen DIJSSELBLOEM, President of the Eurogroup. Shoot location: Brussels - BELGIUM Shoot date: 13/07/2015. Council of the European Union (C)EU, 2015 URL