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Moscovici promises Greece “lighter austerity measures”

EU Commissioner for Economic and Monetary Affairs, Pierre Moscovici, paid a short visit to Athens on Wednesday. Moscovici came to Athens to receive the title of  Honorary Doctor from the Athens University. However, he used the opportunity for a meeting with Greek Prime Minister Alexis Tsipras.

“Greek agreement is necessary and can be reached.”

The EU Commissioner praised Greece for the progress it has achieved. he expressed optimism over an agreement between Greece and the lenders and the conclusion of the second review of the Greek third bailout program.

“It is important o conclude the second review,” Moscovici said stressing “We need a strong Greece in the core of the eurozone.”

He also said that “Greece must exit the austerity,” and that “there is light at the end of the tunnel.” He added the usual cliche: more work is needed.

“Grexit is no longer a threat, this would damage the integrity and the “raison d’être” of the euro.”

Moscovici urged Tsipras to conclude the second review. According to Greek media, he promised “lighter austerity measures” should the Greek government proceed with the legislation immediately.

The lighter austerity measures are supposed to be worth 1.5 billion euros and not 3.5 billion as recently claimed.

Is Moscovici authorized to determine the height of the measures? Hardly.

But life in European capitals like Brussels and Paris can be light and easy for bon viveurs.

Moscovici’s speech at the Athens University is here.

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