Olli Rehn: EU rescue package for Greece 'unprecedented'
Olli Rehn, European Commissioner in charge of economic and monetary affairs, on Sunday said that the scope of the Greek government's austerity package as well as the EU and IMG support package are "unprecedented." Talking at a press conference after a extraordinary meeting of EU finance ministers in Brussels, Rehn said that the Commission "strongly supports" the measures taken by the Greek government. "The Commission strongly supports the economic programme of fiscal consolidation and structural reforms announced today by the government of Greece on the basis of our agreement last night," said Rehn. "The steps being taken, while difficult are necessary to restore confidence in the Greek economy and to secure a better future for the Greek people. This programme is unprecedented, in the scope of the national effort required as well as in the scale of the financial support 110 billion euros being provided by the Euro are countries and the IMF together."