BRUSSELS, Aug 12 (Reuters) - Greece’s international creditors will review in October its execution of reforms agreed under a memorandum of understanding, two European Union sources said on Wednesday.
“There will be a strong first review of the implementation of measures in October. There is a careful balance between measures that support growth and those for fiscal adjustement,” said one of the sources.
The person said the package of measures took into account Greece’s uncertain economic developments. The MOU sets out the reforms the Greek government must carry out in return for a third bailout of about 85 billion euros.
The second source cited a sea change in the negotiations with the Greek authorities in recent weeks which facilitated progress. (Reporting by Tom Koerkemeier, writing by Foo Yun Chee)