Wednesday night’s agreement on a new package of measures to end the euro crisis is a significant step forward although much still has to be done, finance minister Jan Kees de Jager said on Thursday.

‘We still have a lot to work out in [the next meeting of finance ministers on November 7] but we have all the time to do this,’ De Jager is quoted as saying by the Financieele Dagblad.
Both the ruling VVD and D66 Liberal democrats support the deal while acknowledging many of the details remain unclear.
GroenLinks leader Jolande Sap said the agreement appeared to have headed off an escalation of the euro crisis but emphasised there are many ‘loose ends and weak spots’.
Labour has not yet given its reaction. The party said before the meeting it would only support a new agreement if it was contained concrete measures rather than ‘vague compromises’.
Compliance
Speaking after the marathon meeting, prime minister Mark Rutte said he is pleased with a passage in the text which says member states have agreed to follow the recommendations of the European Commission in order to ensure financial stability and economic growth.
The Netherlands is keen to see the appointment of a commissioner with special responsibility for monetary union rules.
The strengthening of the emergency fund for weaker countries is also to be welcomed, Rutte said. ‘It has the power of a bazooka,’ he said.

Main points
The main points of the agreement, which is aimed at stopping the crisis spreading to countries such as Italy, include:
An increase in the eurozone’s bailout fund from €440bn to €1,000bn, through a combination of guarantees and the bond becoming a ‘bond insurer’, and IMF involvement.
Private banks holding Greek debt have accepted a loss of 50%.
Banks must also raise more capital to protect them against losses resulting from any future government defaults.