Belgium: We need to restore confidence - Moscovici

Europe needs to restore confidence among its members and civilians, European Commissioner for Economic and Financial Affairs Pierre Moscovici declared at the Justus Lipsius building in Brussels as the Greek debt deal was reached, Monday. Avoiding 'Grexit' is an important moment that maintains the "integrity" of the Eurozone, Moscovici added, before emphasising the need to continue negotiations in order to cement the terms agreed in the deal. Moscovici's optimism is not exactly shared with all parties in Athens, with Syriza's Left Platform branding the deal a "humiliation." Coming just over a week after the Greek people rejected the demands of creditors in a national referendum, a draft statement released on Sunday 12 indicates the scale of the demands of the creditors. These demands include: the full implementation of automatic spending cuts, including pension reforms and other austerity measures. Moreover, they require the Syriza government to align its legislative agenda with institutions, removing legislation that breaks with the strict spending plans. The Hellenic Parliament must now agree on and push through some of the measures by Wednesday, July 15 and further measures by Wednesday, July 22.