Moscovici doesn’t preclude a 4th Memorandum

“We’ve got a way to go with Greece but we can reach an agreement”

Appealing to the Greek government for a technical agreement by the week’s end in order to lock an agreement at Eurogroup in Brussels on December 5, EU Commissioner for Economic & Financial Affairs, Pierre Moscovici, said: “We should listen to the concerns of the countries who do not want a debt relief,'” leaving open the possibility of new measures.
At the press conference Mr. Moscovici gave that concluded his Athens meetings, the European Commissioner said that the EU’s aim is to achieve a staff-level agreement by all parties which will include a second evaluation as well as measures concerning the debt. He also reiterated that it is in Greece’s interest not to split up the institutions.
Mr. Moscovici told journalists that an extraordinary Eurogroup session might be scheduled for December 19.

 

Though he described his Athens visit as productive, Mr. Moscovici expressed the belief that there are still a number of unresolved issues which need to be addressed.
The Commissioner stressed that if Greece fulfills its commitments, then its partners must keep theirs, too, including the debt by the end of the year. “We have a memorandum, it must be implemented; nothing more, nothing less,” he said.
When asked, Mr. Moscovici said that he is against austerity, especially in Greece. “But to be clear, it must make efforts to ensure a reduction in the imbalances that existed. Effort, yes, austerity, no.” He also hastened to add that “Greek businesses in Greece should be supported. This is not a matter of ideology but necessity because only businesses produce jobs.”
Moscovici left open the possibility of a change in primary surpluses, saying that “the Memorandum will last until 2018; after that, the targets may change. Until 2018, however, we will have a roadmap — the Memorandum “.