Greek opposition New Democracy conservative party leader Kyriakos Mitsotakis centre, walks with his wife Mareva, right in Athens, Monday, July 8, 2019. Mitsotakis was to be sworn in as Greece's new prime minister after a resounding win over left-wing Alexis Tsipras, who led the country through the tumultuous final years of its international bailouts. Mitsotakis' New Democracy party won 39.8% of the vote, giving him 158 seats in the 300-member parliament, a comfortable governing majority. (AP Photo/Thanassis Stavrakis)

ATHENS, Greece (AP) — Greece's bailout creditors on Monday bluntly rejected calls from the country's new conservative government to ease draconian budget conditions agreed as part of its rescue program.

Conservative party leader Kyriakos Mitsotakis was sworn in as Greece's new prime minister Monday, a day after his resounding election victory on campaign pledges to cut taxes and negotiate new terms with international lenders.

Euro area finance ministers meeting hours later in Brussels said key targets already agreed with Athens would not be changed.

"Commitments are commitments, and if we break them, credibility is the first thing to fall apart. That brings about a lack of confidence and investment," Mario Centeno, the Eurogroup president, told reporters after the meeting.

Greece ended its third consecutive international bailout last summer — programs that rescued the country's euro membership and staved off bankruptcy but also deepened poverty and unemployment as successive governments in Athens were forced to make spending cuts in return for the rescue loans.

As part of those agreements, Greece has pledged to achieve government budget surpluses, before debt costs, of 3.5% of GDP for the coming years. That condition has shackled government spending and, critics say, stifled the country's recovery.

Klaus Regling, head of the euro area rescue fund and lead Greek bailout creditor, said the high surplus target would remain a key condition.

"It's very hard to see how debt sustainability can be achieved without it," he said. "The 3.5% surplus is a cornerstone of the program. It was a cornerstone of the program from the beginning."

Mitsotakis, whose late father, Constantine Mitsotakis, was a conservative prime minister in the early 1990s, has promised to make Greece more business-friendly by lowering taxes and cutting red tape. But his new government faces pressing financial challenges, including a national debt that exceeds 180% of GDP and banks saddled 45% of their loans unpaid or in trouble.

Analysts said Mitsotakis would be able to pursue growth-friendly policies despite the bailout constraints and financial challenges.

"The main take-away is that New Democracy's government will be the first one-party government in Greece after nearly ten years," said Spyridoula Tzima, a senior financial analyst at Global Sovereign Ratings. "Mitsotakis (has) a strong mandate to implement his policy agenda."

In the election, Mitsotakis' center-right New Democracy party won 39.8% of the votes and 158 seats in the 300-member parliament, a comfortable majority.

"The people gave us a strong mandate to change Greece, and we will honor that commandment in full," Mitsotakis said after his swearing-in ceremony. "We will make the start today with hard work, with full confidence in our ability to respond to the circumstances."

Hundreds of conservative supporters braved the summer heat to greet him outside the prime minister's official residence, chanting: "There his is! There he is! The Prime Minister!"

He replaced Alexis Tsipras, whose left-wing Syriza party got 31.5% of the vote. Tsipras became the latest in a series of Greek political leaders to suffer election defeat after implementing tough policies prescribed by bailout creditors from the euro area and International Monetary Fund since 2010.

The extreme right Golden Dawn party, the third largest in parliament at the height of the financial crisis, failed to make the 3% vote threshold needed to get seats in parliament.

Mitsotakis' new Cabinet will rely heavily on experienced politicians who served in previous conservative governments. The finance minister will be Christos Staikouras, an engineer and economist who previously served as deputy minister. Nikos Dendias, the new foreign minister, held previous Cabinet posts at the ministries of public order, development, and defense.

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Associated Press writers Derek Gatopoulos and Elena Becatoros reported this story in Athens and AP writer Raf Casert reported from Brussels.

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Derek Gatopoulos on Twitter: http://twitter.com/dgatopoulos

Elena Becatoros on Twitter: https://twitter.com/ElenaBec

Raf Casert on Twitter: http://twitter.com/rcasert

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AP's full coverage on Greece: https://www.apnews.com/Greece

Greece's newly-elected prime minister Kyriakos Mitsotakis, right, is welcomed by former prime minister Alexis Tsipras, left, at Maximos Mansion in Athens, Monday, July 8, 2019. Mitsotakis' New Democracy party won 39.8% of the vote, giving him 158 seats in the 300-member parliament, a comfortable governing majority. (AP Photo/Thanassis Stavrakis)
Greece's newly-elected prime minister Kyriakos Mitsotakis, background, looks on as outgoing prime minister Alexis Tsipras, leaves the Maximos Mansion in Athens, Monday, July 8, 2019. Mitsotakis' New Democracy party won 39.8% of the vote, giving him 158 seats in the 300-member parliament, a comfortable governing majority. (AP Photo/Petros Giannakouris)
Greece's newly-elected prime minister Kyriakos Mitsotakis, bak on camera embraces his children, names not available, shortly after his swearing-in ceremony at the Presidential Palace in Athens, Monday, July 8, 2019. Mitsotakis' New Democracy party won 39.8% of the vote, giving him 158 seats in the 300-member parliament, a comfortable governing majority. (AP Photo/Petros Giannakouris)
Greek opposition New Democracy conservative party leader Kyriakos Mitsotakis centre, shakes hands with a supporter as he walks with his wife Mareva, right, in Athens, Monday, July 8, 2019. Mitsotakis was to be sworn in as Greece's new prime minister after a resounding win over left-wing Alexis Tsipras, who led the country through the tumultuous final years of its international bailouts. Mitsotakis' New Democracy party won 39.8% of the vote, giving him 158 seats in the 300-member parliament, a comfortable governing majority. (AP Photo/Thanassis Stavrakis)
Greek opposition New Democracy conservative party leader Kyriakos Mitsotakis waves to his supporters after win in parliamentary elections at the New Democracy headquarters in Athens, on Sunday, July 7, 2019. Official results from nearly 60% of ballots counted showed the conservative New Democracy party of Kyriakos Mitsotakis winning comfortably with 39.7% compared to Tsipras' Syriza party with 31.5%. (AP Photo/Petros Giannakouris)
Greek opposition New Democracy conservative party leader Kyriakos Mitsotakis left, is sworn in as Greece's new prime minister in Athens, Monday, July 8, 2019. Mitsotakis' New Democracy party won 39.8% of the vote, giving him 158 seats in the 300-member parliament, a comfortable governing majority. (AP Photo/Petros Giannakouris)
A supporter of left-wing Prime Minsiter Alexis Tsipras smokes a cigarette at the main election party kiosk during the parliamentary election in Athens, on Sunday, July 7, 2019. Official projections in Greece's parliamentary election showed the conservative opposition New Democracy party winning 39.8 percent of the vote compared to governing Syriza's 31.6 percent. (AP Photo/Yorgos Karahalis)
Greek opposition New Democracy conservative party leader Kyriakos Mitsotakis talks to his supporters at the New Democracy headquarters in Athens, on Sunday, July 7, 2019. Official results from nearly 60% of ballots counted showed the conservative New Democracy party of Kyriakos Mitsotakis winning comfortably with 39.7% compared to Tsipras' Syriza party with 31.5%. (AP Photo/Petros Giannakouris)
Greek opposition New Democracy conservative party leader Kyriakos Mitsotakis embrace his son after win the parliamentary elections at the New Democracy headquarters in Athens, on Sunday, July 7, 2019. Official results from nearly 60% of ballots counted showed the conservative New Democracy party of Kyriakos Mitsotakis winning comfortably with 39.7% compared to Tsipras' Syriza party with 31.5%. (AP Photo/Thanassis Stavrakis)
Greece's newly-letted prime minister Kyriakos Mitsotakis, right, talks with Greek President Prokopis Pavlopoulos, shortly after his swearing0-n ceremony at the Presidential Palace in Athens, Monday, July 8, 2019. Mitsotakis' New Democracy party won 39.8% of the vote, giving him 158 seats in the 300-member parliament, a comfortable governing majority. (AP Photo/Petros Giannakouris)
A vendor adjusts the front pages of the Greek newspapers as all of them refer to the election result in Athens, Monday, July 8, 2019. Conservative party leader Kyriakos Mitsotakis' New Democracy party won 39.8% of the Sunday vote, giving him 158 seats in the 300-member parliament, a comfortable governing majority. (AP Photo/Thanassis Stavrakis)
People read the front pages of the Greek newspapers as all of them refer to the election result in Athens, Monday, July 8, 2019. Conservative party leader Kyriakos Mitsotakis' New Democracy party won 39.8% of the Sunday vote, giving him 158 seats in the 300-member parliament, a comfortable governing majority. (AP Photo/Thanassis Stavrakis)
Portuguese Economy Minister and President of the eurogroup, Mario Centeno, right, rings a bell to signal the start of a meeting of European Union finance ministers in eurogroup format at the Europa building in Brussels, Monday, July 8, 2019. (AP Photo/Virginia Mayo)