Eurozone finance ministers have agreed on a laundry list of reforms to be implemented swiftly by Greece in order to unlock a slice of its huge $96bn bailout.
The dozens of reforms touching on all aspects of Greece’s economy were to be announced in parliament by newly re-elected premier Alexis Tsipras later on Monday.
“A lot of work will have to be done in the coming months, so it is very important to maintain that very strong reform momentum,” said Eurogroup head Jeroen Dijsselbloem after a ministerial meeting in Luxembourg.
Dijsselbloem said eurozone officials had approved the list of reforms, saying they would “make sure they are implemented”, hopefully, before mid-October in order to release $2.2bn in bailout loans.
The release of a further $1.1bn depends on the programme’s first official review later this month, he said.
“We ask the institutions and the Greek authorities to work hard to conclude the first review as soon as possible,” he said.
Returning to the monthly Eurogroup meeting as Greek finance minister was Euclid Tsakalotos, who is tasked with implementing the reforms agreed in principle last July after six months of bitter talks.
“There is no alternative than fulfilling the commitments that have been taken with the European Union,” warned Pierre Moscovici, the European Commission’s top economic official.