Final solution for debt settlement is possible after 2018 programme, Economy Min Stathakis estimates

The procedure for the debt settlement has already started, but a final solution will be given after the conclusion of the 2018 programme, Economy Minister Giorgos Stathakis said in an interview with Agora newspaper.

“The Eurogroup decision outlines an intervention in three stages. The short-term one is already in progress while at the same time discussions on medium-term interventions that will be implemented by the end of the programme have advanced. That is the time when further initiatives will be evaluated so that the debt is rendered sustainable in the long-term. Nothing in that planning has changed,” Stathakis underlined.

The minister stated that there are several indices confirming the stabilisation of the economy and its return to positive growth rates. If this is also confirmed in the third quarter of the year, then 2016 will close with positive growth rates, he said and estimated that Greece will have growth rates of 2.5 percent from June 2016 to June 2017.

Stathakis underlined that the conclusion of the first programme review will allow the gradual improvement of liquidity conditions and the repayment of overdue public debts.

Asked on how the second programme review can be concluded as well as on the insistence of the IMF on labour issues, he replied that most of the issues are institutional ones and admitted there are structural weaknesses. However, he estimated that both sides can soon come to an agreement.