Schäuble: Greece realized the inevitability of significant reforms in the country – RIA Novosti

© AP Photo / Petros Giannakouris,

BERLIN, August 16 – RIA Novosti. In Greece finally realized that this country can not be avoided and significant reforms, said in an interview with Bild am Sonntag German Finance Minister Wolfgang Schaeuble.

On Friday, the Eurogroup in Brussels, decided to recommend to the national parliaments of the EU countries to ratify the start of negotiations on the third package aid to Greece in the amount of 86 billion euros. The vote in the Bundestag on Wednesday.

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“After a really tough negotiations in Greece have finally realized that this country can not be avoided and significant reforms,” ​​- said Schauble. According to the minister, the outcome of negotiations on Friday “thorough and relevant decisions taken at EuroSummit in July”.

Schaeuble also said that Greek reforms, which have been approved as a condition for receiving the new aid “must be implemented word by word”. “We will monitor for this. Any further aid will depend on it” – said the Minister.

Under the new program of assistance, Greece should receive a primary budget deficit of 0.25% of GDP in the current year, but in the next reach a surplus of 0.5% and in 2017 – to rise to the level of 1.75% of GDP in 2018 – to 3.5% of GDP. This will be achieved, in particular, due to budgetary reform and improving tax collection, a message indicates the Eurogroup.

Greece will submit proposals for the formation of a special fund for the privatization of the assets until the end of October, and to create it – before the end of the year . Based on the statements of the Eurogroup, the purpose of the fund – to identify and translate the next three years under his control a series of public assets, which can then be controlled by the fund to benefit or be sold. The purpose of the fund income – 50 billion euros.

Greece will also have to reform the pension system to ensure its sustainability, efficiency and integrity, was reported in the Eurogroup. Also from Greece await the reform of the labor market and the commodity market, “to open up the economy to investment and competition as well as to modernize and depoliticize the public sector.” The country must undergo recapitalization of banks, including with the use of a number of holders of bonds, but without removing the money from deposits for the purposes of recovery of the banking system.