Roberto Gualtieri (S&D). – Madam President, I think it is difficult to deny that the Greek memorandum of last summer is very ambitious in its attempt to find a balanced approach between stability, growth, competitiveness and social fairness, but it is also very demanding because it is fully front—loaded in its method and extremely broad in its scope. At the same time, I think it is equally very difficult to deny that this Greek Government is delivering and is seriously committed in making reforms and implementing what has been agreed.

For these reasons it is positive that an agreement has finally been achieved on the policy package of the fiscal and structural measures which are necessary to conclude the first review of the programme. I also consider it a good result that the contingency mechanism will be based on the Greek proposal and will not impose on the Greek people additional preventive austerity measures that would have been politically and economically destabilising. I note that the institution that has strongly advocated this option produced an economic forecast on the 2015 primary balance that has proved to be totally wrong. This would have called for more prudence, which hopefully in the end is materialising.

Finally, I strongly welcome that the discussion on additional debt relief has taken place and that now there is guidance and a clear mandate to identify specific measures like maturity extensions, grace periods and this, the interest deferral, on the basis of a three-stage approach that – and this is another positive element – does not exclude further measures in the long term.

So yes, 9 May has been a good day for Europe and I would like to thank the Commission – and Commissioner Moscovici in particular – for its crucial role. Now we strongly encourage finalising of the Eurogroup guidance by 24 May in order to put Greece on the path of stability, growth and jobs and in order to give a clear signal that Europe is able to address and solve difficult crises and can do whatever it takes to preserve its stability and integrity.