European Commissioner Moscovici: It is a good day today

As he stated "after days and nights of negotiations an agreement has been reached on measures that must be implemented in order for the first package of prior actions to be completed". The French Commissioner referred to the agreement regarding the medicine rates, the law on the structure of the Financial Stability Fund which, as he said, will contribute in the management of the non performing loans and will pave the way for the banks' recapitalisation expected to be completed by the end of 2015.

On the protection of first residence from foreclosures, Moscovici noted that it was the most crucial part of the deliberations adding that it was very important a 'reliable framework' to be created to protect the Greek economy and the Greek citizens from burdening and reiterated that EU's aim is the protection of the weaker citizens as well as to face to problem of the 'strategically bad payers".

Finally, Moscovici said that on Tuesday the Eurogroup's Working Group made an evaluation of the progress made and expects the ratification by the Greek parliament on Thursday. The evaluation will be afterwards completed by the institutions which will pave the way for the taking of the necessary decisions by the state members regarding the disbursements of the 2 bln and 10 bln euro tranches.