Greece hopes to make a clean break from troika this year

Greece hopes to make a clean break from troika this year 1

Euclid Tsakalotos

Greece’s Finance Minister Euclid Tsakalotos, said on Thursday that the country is expected to make a “fairly clean exit” from its adjustment program in August this year.

Tsakalotos made the statement on –air during a television interview, where he defined what an ‘exit’ from the troika will mean, saying  the main difference will be the transition from a supervision that also concerns meeting targets and how these are achieved, to a supervision which will concern targets but the “how” will be determined on the basis of the Greek program.

“There will not be a situation where we had supervision and then we don’t,” he said, adding that instead “it will slowly decrease”.

The Minister said the government will prepare its own program with growth targets and social policies by spring, which will focus on continuing the fight against tax evasion and smuggling, reforming the public administration, investments and EU funding. He said this program will be presented in the parliamentary elections in 2019, so that Greeks “will know what lies ahead.”

Tsakalotos also said he is opposed to a precautionary credit line, saying the important thing is for the country “to exit its technical assistance, to be a normal country without a program. You enter a program to get out of it.”

GCT Team

This article was researched and written by a GCT team member.