The European Commission yesterday (2 August) welcomed Greek moves to bring about structural reforms in its economy.

The ten priorities for structural reform announced yesterday by the Greek Minister of Development are a clear sign of the commitment of the Greek government to bring about the much-needed reform of the Greek economy, the EU executive said in a statement.

In the 10-point plan, the Greek government pledged to make the country friendlier towards businesses through measures such as cutting bureaucracy and expediting procedures.

This pledge came after Greece agreed internally to an additional €11.5 billion of budget cuts for the next two years, brokered by Prime Minister Antonis Samaras.