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FM Hardouvelis Confirms Adjustment Program Timeline

Today in Luxembourg, Greece's new Finance Minister Gikas Hardouvelis reconfirmed that the nation will have achieved all adjustment program mandates before August.

Hardouvelis claimed: "The government has every incentive to move fast and implement the reforms it has promised", according to ANA-MPA.  Referring to Hellenic debt sustainability negotiations, the FM confirmed a date has not been set and discussions will begin when needed. His comments focused on the IMF's Greek finance guarantee; European loans will rely on reform and action finalities.

Hardouvelis stated that the country's program holdup was due to European elections. He declared that six will be finalized before the month's end, while the final six will be executed before August holidays.

The Finance Minister commented that after six troublesome years of financial turmoil, the nation was: "...coming into a new era, with a population that faces its problems and shows a willingness to solve them", according to ANA-MPA.