FX.co ★ Progress on Greece’s deal made at last

European Commission President Jean-Claude Juncker and the eurozone finance ministers for the first time cheered progress in the painstaking talks on Greece’s rescue program. The Eurogroup assembled in Brussels for a new round of the talks. Top officials made a joint statement which approves Greece’s efforts to implement the pension reform and streamline the economy as a whole. The negotiators are fully aware that more time and efforts are needed to settle the discord between Greece and its creditors on major issues. Heavily indebted Greece aims to create the bridge to Germany that takes the lead among the creditors. Athens intends to gain Germany’s support in the talks and urge the European Central Bank to keep vital financial aid in full. In a joint statement, EC President Jean-Claude Juncker and Greek Prime Minister Alexis Tsipras highlighted "the need for wage developments and labor market institutions to be supportive of job creation, competitiveness and social cohesion." The statement shows that the Greek government is no longer resisting constructive talks on the burning issues. The talks should be conducted involving technical experts from Greece and the institutions overseeing its bailout in compliance with the strict European standards. With the positive feedback from the lending institutions, Greece’s government is ready to implement the rest of the reforms concerning all economic sectors from tourism to heavy industry.