The record 110 billion euro ($147bn) Greek rescue package has improved market conditions and there is no risk of a eurozone collapse, ECB Governing Council member Erkki Liikanen said.

“The tough decisions made over the past weekend have eased (the problems). We are going in a better direction,” Liikanen told Finnish broadcaster MTV3 recently, noting Greece still faced tough years ahead.

“There are still many governments, many parliaments, ahead, but we trust that this will now go through,” Liikanen later told national Finnish broadcaster YLE.

When asked whether he thought the common euro currency was at risk of collapse due to the Greek debt crisis, Liikanen said: “no”.

He also said the EU was ready to act if Greece does not follow the package’s guidelines.

“If there comes a really difficult situation, then the EU has its own tools to use,” he said.

The comments came after Greece won approval from eurozone finance ministers to draw 110 billion euros in loans over the next three years from its eurozone partners and the IMF to bolster its ailing finances.

Financial markets have reacted sceptically to the relief package, with investors doubting it would offer more than temporary relief to a eurozone shaken by political divisions and saddled with high debt.

Markets also doubt whether Greece can push through new austerity measures pledged in exchange for aid.

Liikanen said that while there are always risks with loans, they were low in this case, noting that the package was assembled using the best knowledge and know-how at hand.

He added that he saw Greece as an exception when it came to the country’s track record of reporting flawed statistics.

“Greece has in the past few years been the only exception, and I do trust that this lesson we have gone through will strengthen the Commission’s grip on statistics,” he said.

Liikanen also said eurozone interest rates were currently appropriate, but they would eventually rise from historically low levels.