Speaking before the Eurogroup meeting in Brussels, German Finance Minister Wolfgang Schaeuble assured that there is no intention of modifying the growth and stability pact.

In his statement, Mr. Schaeuble stressed that there was a need for stimulating growth further in Europe, which could be done only through the implementation of structural reforms.

Dijsselbloem for Greece: “More work needs to be done”

“The program for Greece will be completed at the end of the year and more work needs to be done,” said today Eurogroup head Jeroen Dijsselbloem at the monthly meeting of Eurozone Finance Ministers in Brussels.

Dijsselbloem noted that a few days ago the Euro Working Group on Friday approved the release of a 1-billion-euro tranche of rescue loans to Greece. However, he stressed, Greece must make more efforts to meet the bailout program requirements.

Dijsselbloem underlined that Eurozone Member States should continue implementing structural reforms, not only promising to do that. The European Commission would assess the reforms’ effectiveness, he added.