Tsakalotos: Greece to extend the fiscal correction mechanism beyond 2018

Monday, January 2nd, 2017
Last Update: 09:11

The Greek FinMin Mr. Tsakalotos said during an interview that the government would, within the context of a compromise between the IMF and European creditors on the Greek programme, extend the automatic spending cut mechanism beyond 2018 when the Greek programme ends.

He also added that it is possible even now to describe what expenditure areas the fiscal correction mechanism would target if the IMF’s prediction that the 3.5%-of-GDP primary surplus target will not be met with the current agreed measures is confirmed.

That said, Mr. Tsakalotos categorically ruled out that any such measures will be implemented now, while at the same time stressing that the government rejects the interventions been proposed by IMF officials, namely reducing the tax threshold and further cutting current pensions.

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