Eurozone ministers urge Greece to deliver on reforms

Eurozone finance ministers urged Greece on Monday to swiftly implement the tough reforms at heart of its huge bailout as newly re-elected premier Alexis Tsipras presents to the Greek parliament the challenges ahead.

The single currency's 19 top financial officials met in Luxembourg for the first time since Greek voters returned anti-austerity leader Tsipras to power after snap elections on September 20. "A lot of work has to be done, a number of reforms still have to be implemented and new reforms have to be designed," said Jeroen Dijsselbloem, the head of the Eurogroup of finance ministers.

"It's in the Greek interest to deliver as quickly as possible so we can also continue on the process of bank recapitalisation and go into the debate about debt restructuring," said Dijsselbloem, who is also Dutch finance minister.

Returning to the Eurogroup as Greek finance minister is the discreet Euclid Tsakalotos who must implement the reforms agreed in July in return for a 86-billion-euro ($96-billion) rescue, the country's third in five years.

Tsipras will present dozens of measures covering all aspects of the Greek economy in Athens later on Monday in a general policy speech to the newly elected parliament.

"There is no alternative than fulfilling the commitments that have been taken with the European Union," said the European Commission's top economic official, France's Pierre Moscovici.