On Friday, July 17, in an extraordinary meeting having evaluated the structural reforms implemented by the Greek government ministers agreed that Latvian Finance Minister Jānis Reirs could start negotiations between the European Commission and Greece to begin preparation of the international loan programme. The international loan will be granted to Greece through the European Stability Mechanism (ESM) borrowing necessary resources on external markets.
On Sunday, July 12, leaders of the Eurozone in an extraordinary meeting agreed on a new potential international loan programme for Greece supported by the European Stability Mechanism through borrowings on external markets. If by the end of July 15 the Greek government implements all necessary reforms, Member States of the Eurozone (national governments or parliaments) will consider the possibility to launch negotiations with Greece about drafting a Memorandum of Understanding.
On Friday, June 19, the Minister for Finance, Jānis Reirs chaired the meeting of the EU Economic and Financial Affairs Council (ECOFIN) in Brussels. During the meeting, the EU Member States expressed their views on the Banking structural reform, Capital markets union and other issues.