Commissioner Moscovici reiterates EU support for Greece to overcome debt crisis

European Commissioner for Economic and Financial Affairs Pierre Moscovici started a two- day visit to Athens on Tuesday by reiterating the European partners' support to Greece's efforts to overcome a six-year debt crisis.

"We need to make all the efforts collectively for the successful implementation of the program... We stand by Greece's side," he said after a first meeting with Prime Minister Alexis Tsipras.

He noted that the launch of a discussion on the Greek debt load was "realistic" if the prior actions agreed with lenders are fulfilled and stressed that the recapitalization of Greek banks should also be completed by the end of 2015.

The Commissioner talked about a good momentum to move forward to implement reforms to boost growth and restore social cohesion.

Moscovici visited the Greek capital to be briefed on the progress of the implementation of the Greek program. The conclusion of a positive review of the program in coming weeks has been set by international lenders as a precondition for the release of fresh loans to Greece.

Following the agreement on a third multi-billion-euro bailout over the next three years in exchange of more austerity and reform policies, Athens needs to pass a second multi-bill in coming days that contains new tough tax hikes and other measures to clear the path ahead.

The commissioner noted that pending issues should close by next Monday so that the Euro Group can give the green light for the release of the first loan installment.

"I cannot see why there can not be an agreement by Monday, but there are things that can be done and others that cannot be done," Finance Minister Euclid Tsakalotos said after a separate meeting with Moscovici.

On the agenda of talks in Athens on Tuesday were thorny issues such as the management of nonperforming loans and foreclosures criteria.

The Greek government asked for a wide protection net from auctions of primary homes, while creditors requested more strict thresholds.

The Left-led government was expected to repeat its arguments to European Parliament President Martin Schulz who follows with a two-day visit starting on Wednesday.

Schulz was scheduled to visit with the Greek Premier the island of Lesvos at the frontline of the parallel refugee crisis that tests Greece and EU this year.

The government argues that creditors should ease pressure on Greece to fully meet within timetables bailout commitments taking into account the enormous burden the country bears due to the refugee crisis. Endit