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EU turns heat on Greece, says reforms must for aid

world Updated: May 30, 2012 23:04 IST

Reuters
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The European Union turned up pressure on Greece on Wednesday, warning it must step up reforms to keep getting full bailout aid and that the date of its next inspection visit to Athens will depend on the outcome of a general election on June 17.

Greece is anxiously awaiting the visit by the ‘troika’ of EU, International Monetary Fund and European Central Bank officials, which will decide on unlocking more bailout funds.

The date of their inspection has been provisionally set for late June or early July, but the EU executive raised the prospect of it being delayed further if the election failed to produce a suitable coalition government.

The European Commission made it clear in the report on Wednesday that the continuation of an international aid programme was contingent upon Athens pushing ahead with difficult reforms and on the formation of a government ready to honour the country’s debt-reduction pledges.

“Implementation risks will remain very high,” the report said. “Comprehensive international financial assistance can continue to be provided only if policy implementation improves.”