Moscovici: Eurogroup needs to find credible debt package for Greece

Eurozone’s finance ministers meeting on Thursday need to hammer out a “credible package” of debt relief for Greece that will make debt sustainable and be convincing for the markets, EU Economics Commissioner Pierre Moscovici said, arriving at the Eurogroup meeting in Luxembourg.

“Today will be a historical moment for Greece and for the eurozone. For Greece, because at last, after eight years of difficult reforms, tough adjustments and programs, Greece will be capable of standing on its own two feet. I am very confident that we will find a deal today. I think this is our duty,” he said.

“To find a deal today and conclude the Greek program we need to have a credible package for debt measures that is strong enough to alleviate the debt burden for Greece and to reassure markets.”

Moscovici said “the spirit is positive from all sides of the table” to reach a solution.