Feb. 21 (Bloomberg) -- Greek Prime Minister Lucas Papademos described the euro-area agreement on a second aid package for Greece as an “historic” step for the nation’s economic recovery.
Papademos said his caretaker administration would respect the budget-austerity conditions tied to the rescue and predicted the government that emerges after a general election due as soon as April would do the same.
“We’re very happy with the outcome,” he told reporters today in Brussels after the accord at a European finance ministers’ meeting that he attended. “We worked very hard in order to adopt the new economic program. I am convinced that the government after the election will also be committed to implement the program fully and in a timely fashion because this is in the interest of the Greek people.”
The finance ministers awarded 130 billion euros ($173 billion) in extra aid and coaxed investor representatives into providing more debt relief in an exchange offer meant to tide Greece past a bond redemption next month.
“It’s not an exaggeration to say that today is of historic importance for the Greek economy,” Papademos said. “We have no luxury for delays.”
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