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The Finance Committee of the Riigikogu (Parliament of Estonia) supported the draft Memorandum of Understanding between the European Commission and the Hellenic Republic at its sitting.

The Memorandum of Understanding will form a basis for approving the political agreement on the third financial assistance programme for Greece. The financial assistance programme covering an amount of up to 86 billion euro would last from August 2015 to August 2018.

The plenary assembly of the Riigikogu will pass a decision on Estonia’s position in this issue at the extraordinary session held on 18 August.

“Assisting Greece will not increase the volume of the financial obligations for Estonia. Estonia supports the efforts of Greece to make its budget policy more sustainable, and we do not see any possibilities for reducing or writing off Greece’s debts,” said the Chairman of the Finance Committee Remo Holsmer.

“The Memorandum of Understanding, that is the basis for the assistance programme, contains harsh preconditions that Greece has to meet in order to be granted loan. Structural reforms, like tax reform, labour market reform and pension reform, have to be carried out in order to get each additional loan,” Holsmer added.

No motions to amend the draft were submitted by the Riigikogu. The Draft Resolution of the Riigikogu “Approval of the Draft Memorandum of Understanding between the European Commission and the Hellenic Republic” will be put to final vote on 18 August at 2 p.m., in the form submitted by the Government.

Photos of the sitting

Riigikogu Press Service
Kati Varblane
Phone: +372 631 6353, +372 51 69 152
[email protected]
Questions: [email protected]