Tuesday, October 9, 2012

The European Stability Mechanism (ESM) is now operational, Eurozone Finance Ministers announced at a meeting held yesterday in Luxembourg.

With regard to Greece, the ministers said that the next move was expected from the troika of international creditors, once negotiations over the €13.5-billion austerity package have been completed.

Eurogroup head Jean-Claude Juncker praised the Greek government’s efforts and determination [VIDEO], urging it to continue with the implementation of necessary measures in order to get the programme back on track, before the next European Council meeting on October 18.