Deal on program review opens way for exit from memoranda in 2018, says Dragasakis

The agreement on Greece’s second program review, if it is concluded with measures on debt, creates the conditions for the final exit from the bailout programs in the summer of 2018, Government Vice-President Yannis Dragasakis said at a conference on non-performing loans (NPLs) on Monday.

Dragasakis defended the government’s law on settling NPLs saying “you cannot speak of recovery with an indebted society”.

Commenting on the program review, he said: “The agreement on the second review, if it is concluded as expected with measures for the debt, creates the conditions for the country’s participation in the ECB’s quantitative easing program and a foray into the markets in 2017. It unlocks, that is, the procedures for the final end of the memoranda and the supervision in the summer of 2018.”

Asked about the relations between the government and bankers, he said “banks cannot exist without having a good relationship with the [any] government, but we do not begin with the concern who likes who.”

“This government does not have its own bankers and doesn’t want to have any,” he added.