Greek bailout programme exit unaffected by Turkey’s currency woes

Euclid Tsakalotos

Euclid Tsakalotos

Greece’s Finance Minister Euclid Tsakalotos said on Tuesday that Turkey’s troubling economy and currency woes will not affect Greece’s upcoming completion of the adjustment program on August 20.

Tsakalotos said the Government was closely monitoring developments in neighbouring Turkey and hoped the country recover.

The Greek government is watching closely developments in neighboring Turkey, Finance Minister Euclid Tsakalotos said in statements to on Tuesday, but they are not affecting Greece's

"The Greek government, like all European governments, is following closely developments in the Turkish economy. Our hope and wish is that our neighbors overcome their problems soon. However, the issues of Turkey's economy do not affect the Greek economy's clean exit from the loan agreements (memoranda).

"A clean exit is based on the following: the Eurogroup agreement on Greece's debt management, and the cash buffer the government has created which guarantees that the public sector's funding needs will be met in the next 2 or 3 years.

"Therefore, the Greek government's plans are not affected by short-term turmoil in the markets. On August 21, Greece is turning the page, and this is final,” said Tsakalotos.