FinMin Tsakalotos responds to ND leader Mitsotakis’ criticism

‘Someone who wants to become prime minister has to know, at least, two or three basic things, among others of course how economy works. Otherwise, he becomes really dangerous for his country,” Economy Minister Euclid Tsakalotos said on Thursday.

Responding to criticism by New Democracy leader Kyriakos Mitsotakis over a delayed distribution of a budget surplus to the society, the Finance minister said that Mitsotakis should know any additional spending in 2017 would risk lowering this year’s primary surplus. “The government distributed 620 million euros to low-income pensioners in 2016, but New Democracy did not vote the measure and now they make things worse by proposing social spending,” Tsakalotos said, adding that Mr Mitsotakis has a second chance: to vote positive measures included in an agreement reached with the creditors. These measures will benefit the society and no one else. “Primary surpluses do not disappear or vanish, because they cannot be transferred. Overshooting can create fiscal space only if it based on permanent factors. Any overshooting of the budget should be returned to the society with priority to the weakest. That’s what the government has done in 2016 after ensuring there would be no threat to achieve its budget goals.