FinMin Tsakalotos says ‘fairly clean exit’ from program expected in August

Greece is expected to achieve a “fairly clean exit” from its adjustment program in August this year, Finance Minister Euclid Tsakalotos said in an interview with Greek TV station Alpha on Thursday.

Describing what the exit will mean, he said the main difference will be the transition from a supervision that also concerns meeting targets and how these are achieved, to a supervision which will concern targets but the “how” will be determined on the basis of the Greek program.

“There will not be a situation where we had supervision and then we don’t,” he said, adding that instead “it will slowly decrease”.

Tsakalotos said the government will prepare its own program with growth targets and social policies by spring, which will focus on continuing the fight against tax evasion and smuggling, reforming the public administration, investments and EU funding. He said this program will be presented in the parliamentary elections in 2019, so that Greeks “will know what lies ahead.”

The minister said he is opposed to a precautionary credit line, saying the important thing is for the country “to exit its technical assistance, to be a normal country without a program. You enter a program to get out of it.”