Greece does not need a fourth programme, says Coeure

Greece does not need a fourth programme, Benoit Coeure, member of the executive committee of the European Central Bank (ECB), said in an interview with SKAI TV.

Coeure did not rule out the possibility of an emergency Eurogroup in mid-December if no agreement is achieved on December 5.

“Time is important. But this must not affect the content of the agreement,” Coeure underlined. He also left open the possibility of reducing the primary surplus target of 3.5 pct pct but explained that this cannot happen immediately after 2018; it would take some years.

Moreover, he stressed the Greece can achieve a primary surplus of 3.5 pct of GDP for a few years after 2018 provided that there is a correct mixture of fiscal policy and measures for the sustainability of debt.