"Greece will remain in the Eurozone, the EU will remain supportive and will demand Greece meets its commitments", says Mariano Rajoy

The President of the Government explained that this agreement is based on the request made by Greece for a bailout programme for the next three years which fundamentally consists of a loan from the European institutions.

This programme is tied in to compliance with a series of obligations that must be implemented prior to the definitive approval of the programme. In fact, on Wednesday Greece must present four draft laws, one on VAT, another on pensions, a third on the independence of the Greek National Institute of Statistics and the last one on the issue of fiscal consolidation.

If the Greek Parliament approves this, the European institutions will verify "whether things have been done how they were agreed to be done", said Mariano Rajoy.

According to the President of the Government, a good decision has been adopted. "Greece will remain in the Euro, everything that has been proposed and asked for has one fundamental aim, which is to truly resolve the problems, which comprise ensuring economic growth and job creation, and this can only be achieved through structural reforms, as undertaken by other European Union countries, and what we need now is for everyone to meet their commitments".

In relation to the creation of a fund to which assets for a value of 50 billion euros will be transferred, Mariano Rajoy explained that half of this fund will be used to recapitalise financial institutions and the rest will be divided into two equal parts, one allocated to reducing the public debt and the other allocated to productive investments.