Sunday, February 18, 2018

Greece seeks to calm Brussels’ bailout fears

by Kerin Hope

Financial Times

February 18, 2018

Greece’s finance minister has said his country will not need to be subject to tight monitoring once its bailout programme ends in August, insisting the concerns of EU partners are misplaced as it can be trusted to manage its finances safely.

Euclid Tsakalotos says that Greece’s new economic growth plan, to be unveiled in April, will assuage fears in Brussels and Washington that the leftwing Syriza government will roll back unpopular economic reforms as soon as bailout constraints are lifted.

“We want as ‘clean’ an exit as possible [from the bailout],” Mr Tsakalotos said in an interview with the Financial Times, using Syriza’s term for drawing a line under eight years of austerity that has seen Greece’s output shrink by about one-quarter and an exodus of some 450,000 young skilled workers to other EU countries.


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