Greece will get a two-month extension, to the end of February 2015, to complete its fiscal adjustment programme, Eurogroup officials announced on Monday (8.12). "The Eurogroup welcomes the recent positive macroeconomic developments in the Greek economy... The economic adjustment programme is starting to pay off and is proving to be a cornerstone for Greece's return to sustainable and balanced growth and job creation."

According to statements by Eurogroup president Jeroen Dijsselbloem and European Commissioner for Economic Affairs Pierre Moscovici  during a press conference following the meeting, the services of the troika of Greece's lenders - the European Commission, European Central Bank and International Monetary Fund - will prepare a factual report on the state of play in the current review on the state of negotiations with Greece, while the Greek government is officially submitting the request for the two-month extension today. The extension request must be approved by national parliaments of eurozone members.

Dijsselbloem expressed confidence that the final review of the fiscal programme would be concluded within two months, leading to the disbursement of the last tranche (€1.8 billion) of the loan to Greece still reserved for this purpose in the EFSF. The two officials also announced the return of the Troika’s technical teams to Athens today (9.12).


Finance Minister Gikas Hardouvelis expressed satisfaction in Brussels with the Eurogroup’s decision to give Greece a two-month extension to end-February 2015 for the final review by the troika of its lenders and the completion of the fiscal adjustment programme.