The EU Economic and Financial Affairs Council (ECOFIN) met yesterday Tuesday, but Greece was not on the agenda.

After the meeting, the Greek Fin Min, Euclid Tsakalotos, expressed optimism on the swift second evaluation of the Greek programme. He added that Greece is the one who eventually gains from the rapid implementation of the programme.

Regarding the letter he has recently sent to the institutions on how to improve the cooperation of the Greek authorities with the technical delegations, he noted that the issues raised in that letter are procedural and will be the subject of a preliminary discussion with the institutions in view of the second evaluation.

Referring to enforcement procedures due to excessive deficits in Portugal and Spain, a subject discussed during the Council meeting, Mr. Tsakalotos underlined that the Greek side voted against this proposal, but the necessary majority to block the process was not reached. In any case, the Greek minister clarified that this decision concerns the initiation of the process and not the penalty enforcement per se.