The chairman of the group of 17 eurozone finance ministers says Greece agreed to privatize more national assets in an effort to reach the budget targets set out in its bailout program.
Jean-Claude Juncker, who is also the prime minister of Luxembourg, said Monday that the Greek government agreed that the volume of its privatization program needed to be "corrected upwards." Greece in March promised to privatize public companies and other assets worth some (EURO)50 billion ($71 billion).
The EU's Monetary Affairs Commissioner Olli Rehn said Greece also needed to step up the implementation of already promised economic reforms and spending cuts.
More austerity measures are seen as a precondition for granting Greece additional help.
Greece to step up privatization program
