European Commissioner for Economic and Financial Affairs Pierre Moscovici on Monday stressed the need to smoothly conclude the third review of the Greek programme so as to pave the way for the successful conclusion of the programme in the summer of 2018.
Referring to Monday's announcement by the European Council that the excessive deficit procedure for Greece was formally closed, Moscovici also emphasised Greece's unprecedented achievement:
Today's decision by the Council is a recognition of the tremendous efforts and sacrifices the Greek people have made to restore stability to their country's public finances. The turnaround since 2009 has no parallels in Europe. We now need to ensure there is constructive cooperation between all institutions and the Greek authorities to ensure a smooth and swift conclusion of the third review. That will pave the way for a successful conclusion of the programme next summer and for the opening of a new and optimistic chapter for Greece and for the euro area as a whole.?