* EU Commission: Greece must stick to bailout agreement
* Commission ready to help Athens meet targets
* Commission: up to Athens to deliver on agreements
BRUSSELS, May 7 Greece must implement the
reforms it agreed to under the second bailout programme and the
European Commission is ready to help Athens with that, the
European Union executive said on Monday, after Greek parties
opposing the bailout did well in elections.
"Full and timely implementation of the programme is of the
essence in order to meet the targets and (reach) sustainability
of the Greek debt," Commission economic and monetary affairs
spokesman Amadeu Altafaj told a regular news briefing.
Greece's conservative leader, whose New Democracy party won
the biggest support in elections on Sunday, began a hunt for
partners to forge a coalition that would continue reforms agreed
with the euro zone and the International Monetary Fund, which
are a condition for continued emergency financing for Athens.
Without the EU/IMF funds, Greece would have to default on
its debt, which some politicians believe would entail leaving
the euro zone and the European Union.
But on Sunday, voters savaged the two ruling parties for
imposing steep wage and spending cuts, in line with the bailout
terms, and forming a coalition government in support of the
reforms might be difficult.
"A second programme has been negotiated with the Greek
authorities, on behalf of the Greek state... the private sector
has contributed... but of course when it comes to
implementation, it is up to the Greek authorities," Altafaj
The bailout programme is an ambitious deal struck in
February that aims to clear the way for Greece to return to
financial markets by 2015.
"We stand ready to continue to assist Greece with its
ongoing reform agenda in the framework of the second economic
adjustment programme," European Commission spokeswoman Pia
Ahrenkilde Hansen told the briefing.
The Commission said it was premature to anticipate what
decisions a future Greek government that might emerge from the
coalition talks could take regarding the bailout reforms.
"We do not have a new government in Greece yet," she said.
"The Commission hopes and expects that the future government of
Greece will respect the engagement that Greece has entered
Greece consistently missed targets under its first
programme, agreed in April 2010, which led to the restructuring
of its private-sector debt under the second package.
Officials say any further backsliding now will not be
tolerated, especially with the International Monetary Fund a
reluctant partner in the second programme.