Michalos: Speculation about early elections harms the economy

The speculation about possible early elections must stop because it only causes turmoil in the economy and society, the head of the Central Union of Hellenic Chambers Konstantinos Michalos said on Monday in an inteview with public broadcaster ERT.

Referring to the possibility of early elections, and to those who ask for it, he said that “this was a logic of the 1950s and 1960s,” adding that “caution, consensus and co-operation must be prevail to bring us back to a growth path.”

Referring to the country’s “clean exit” from the memorandums expected in August, he stressed that the political system must agree that there is convergence to lead to high growth goals. “Clean exit means we will not be under a memorandum surveillance like the one we have been in the last eight years. We will not be superintended but we will have a surveillance like all the other European countries,” he added.

Moreover, he said that the economy is stabilising but that Greece must to give thought to a national strategic plan for the country’s economic growth. Michalos expressed his opposition to the precautionary credit line, which would mean increased surveillance and a specific ceiling of 7 billion euros when this amount is not enough to solve the problem of the Greek economy. He said that annual investments of 42 billion euros are needed by 2022.