EU gives Greece $2B Euro but pushes reforms

The European Union offered Greece 2 billion Euros ($2.16 billion ) in development funds, Friday, following crisis talks between Greek Prime Minister Alexis Tsipras and European leaders.

“Greece confronts a serious social problem, a humanitarian crisis.” EU Commission Chief Jean-Claude Juncker told a press conference in Brussels after talks had concluded.

“I would like to see these funds being used to provide solutions for the massive youth unemployment in Greece” Juncker added. “Greece needs assistance and funds are available.”

Tspiras, on Thursday, following talks with various European leaders and institutions, assured that Greece would undergo certain economic reforms.

“As soon as this procedure is in place, a gradual disbursement of funds will be possible,” Tsipras told reporters in Brussels.

Tspiras also added that Greece would not run-out of funds to pay government employees and creditors had “no problem with liquidity in the short term.”

The funds come amid a backdrop of escalated tensions between the EU and Athens following the January election of the leftist Tsipras Government in Greece.

Tspiras was elected on a campaign highlighted by anti-austerity and promises that Greece would not be forced into cutting public spending to pay international creditors.

 

[Al Jazeera English] [Reuters] [Photo By Telegraph UK]

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