Statement by the President of the Eurogroup, Jean-Claude Juncker, on the second adjustment programme for Greece

14 March 2012

Member States have authorised the EFSF to release the first instalment for a total amount of €39.4 billion, which will be disbursed in several tranches.

The euro area Member States have today formally approved the second adjustment programme for Greece. All required national and parliamentary procedures have been finalised. This second programme constitutes a unique opportunity for Greece that should not be missed. The Greek authorities should therefore continue demonstrating strong commitment, and keep up the implementation momentum by rigorously pursuing the adjustment effort in the areas of fiscal consolidation, structural reforms and privatisation, strictly in line with the new programme.

This will allow the Greek economy to return to a sustainable path, which is in the interest of everyone.

Press release

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