Eurogroup chief praises Greece

Dutch Finance Minister and Eurogroup head Jeroen Dijsselbloem had good things to say concerning Greece during discussions of the European Parliament's Economics Committee, on the issue of latest developments in the economy. As he stated, characteristically, there is real progress taking place in Greece.

Concerning Cyprus, the Dutch minister noted that the country's economic adjustment program is moving along smoothly, while as concerns measures against Russia, he called them effective and noted that is a possibility that these might be extended.

Regarding the economy of the Eurozone, Mr Dijsselbloem called the rebound “very fragile and uneven.” As he said, though, recent developments highlight the need to promote the agenda of growth and reform. “Basic challenges faced by the Eurozone are unchanged,” he stated, adding that devaluation of the Euro “may be useful.”

He also maintained that the process of oversight of state budgets of the 18 Eurozone members should forge ahead, and that fiscal policies for 2015 should be recovery-friendly.

Regarding the ECB, that is meeting today, Mr Dijsselbloem noted that results of decisions taken by the central bank in June have not yet been assessed and time is needed, adding that a strong dependence on fiscal policy could involve major long term risks.

Finally, Mr Dijsselbloem, commenting on his tenure as Eurogroup head, which ends in July 2015, clarified that he meant to finish it to the end.