Financial News: Commission awaiting results of a troika visit to Athens

The European Commission on Friday said it was awaiting for the results of a troika visit to Athens in order to reach a decision on whether Greece fulfilled preconditions for the release of a fifth tranche of a loan agreement signed between Greece, the EU and the IMF. The statement was made by Amelia Torres, the European Commission’s spokeswoman. The EU executive’s spokeswoman said it was of great significance to have detailed information over additional measures needed and Greece’s funding needs for 2012. Torres said Greek authorities must offer guarantees for achieving fiscal goals in 2011 and promoting structural reforms and privatizations. Commenting on reservations expressed by IMF officials over the continuation of financial support to Greece, Torres said it was a known rule, included in the Fund’s statute, which was implemented in all IMF support programmes.

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