Greek Deputy FinMin: We Knew Debt Measures Would be Clarified at the Program’s End

Wednesday, June 28th, 2017
Last Update: 17:03

“We knew that debt relief measures would be clarified at the end of the bailout program,” said Greece’s Deputy Finance Minister Giorgos Chouliarakis on Wednesday.

Speaking at an Economist conference in Lagonissi, Athens, Chouliarakis said that Greece needs to reach its reform goals, manage the taxation issue and make the budget more growth-friendly.

The deputy minister further said the government’s goals are to reduce bureaucracy, assume ownership of the bailout program and speed up privatizations. He also said that “what we need to improve is how we communicate the results of the reforms” to become a pole of attraction for investment.

Regarding the importance of Greece participating in the European Central Bank quantitative easing (QE) program, Chouliarakis said that it is desirable but not necessary. He said that Greece can borrow from the markets without being in the QE scheme. He specified that macroeconomic stability and implementation of reforms are more important in order to regain market trust.

When asked to comment on the agreement of June 15 Eurogroup, Chouliarakis said that “we all knew that the debt measures would be fully clarified and would be delivered towards the end of the program” and stressed that on the basis of these decisions there is sufficient clarity to the markets “where things go in terms of the Greek debt.”

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