European officials are satisfied with the agreement in principle between the International Monetary Fund (IMF) and Greece for a precautionary funding line of up to 1.6 billion euro. “It is a new positive indicator of the international partners’ returning confidence in Greece and a very positive signal to the markets”, said European Commissioner for Economic and Financial Affairs Pierre Moscovici, who will be visiting Athens on Tuesday to meet with Greek Prime Minister Alexis Tsipras and Finance Minister Euclid Tsakalotos.

“The shared conditionality between the IMF and ESM programs ensures full alignment on the policy package for Greece”, stated on his part European Stability Mechanism (ESM) Managing Director Klaus Regling.