EU exec: Greece meets emergency loans conditions

BRUSSELS, May 2 (BestGrowthStock) – Greece has committed to credible
measures to cut its budget gap and meets conditions to receive
emergency loans from the euro zone and the Inernational Monetary
Fund, the European Commission said on Sunday.

“The Commission considers that this agreed set of measures
constitutes a solid and credible package,” Commission President
Jose Manuel Barroso said in a statement.

“The Commission considers that the conditions for responding
positively to the request by the Greek Government are met and
recommends that the coordinated European mechanism for
assistance to Greece be activated, on the basis of the agreed
multi-annual adjustment programme.”

The Commission’s positive assessment, along with a similar
one from the European Central Bank, of a Greek request for
emergency loans, was a formal requirement for their release.

Stocks

(Reporting by Jan Strupczewski, editing by Timothy Heritage)

EU exec: Greece meets emergency loans conditions