The euro zone's 19 finance ministers met in Luxembourg on Monday, with current Eurogroup President Jeroen Dijsselbloem urging the re-elected Syriza government in Greece to, "as quickly as possible", implement a number of reforms promised during the last round of negotiations with creditor states. "A lot of work has to be done, a number of reforms still have to be implemented. New reforms have to be designed: on the pension market, labour market, etcetera," he said. "So all I can say is it's in the Greek interest to deliver as quickly as possible so we can also continue with the process of bank recapitalisation, and go into the debate about debt restructuring, debt relief, but all of this requires previous work," he added. The Eurogroup approved in August an €85 billion ($95 billion) three-year bailout which assures Greece's place in the euro zone and includes reforms such as the formation of a new independent privatisation fund, the gradual increase of the pension age to 67 and a review of the spending of the social welfare system. The Syriza-led Greek government which negotiated that bailout agreement was re-elected last month.
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