Lithuania says euro area needs confidence in Greece

11 December 2015
94 Views

The euro area needs to keep building post-crisis confidence by pursuing joint deposit insurance and keeping Greece’s bailout on track, Lithuanian Finance Minister Rimantas Sadzius said.

The EU needs a common deposit guarantee system “as soon as possible,” Sadzius said in an interview on Thursday in Vilnius. He said the European Commission’s proposals are a positive step, even if talks will be tough.

“Joint European deposit insurance is a path that we will inevitably take,” Sadzius said. “It’s only difficult to predict at this point how quickly this would happen because there’s a variety of discussions.”

Building banking union and keeping Greece’s third rescue on track have been central elements of the 19-nation euro area’s efforts to rebuild and strengthen after the crisis that pushed five of its nations to seek bailouts. Sadzius said talks on restructuring Greece’s debt will begin once it’s clear the current program is on track.

“These discussions will begin at an appropriate time,” he said. “The start will depend on how quickly work proceeds with ongoing measures, and on how the aid program is being implemented. The Greek government is gaining confidence

You may be interested

Syros: Greek tradition & western influence come to a harmonious marriage
GREECE
shares48 views
GREECE
shares48 views

Syros: Greek tradition & western influence come to a harmonious marriage

Panos - Oct 20, 2017

Ermoúpoli (meaning “the city of Hermes”) is the island’s capital town and has been the first important trade and industrial…

Environment may have partially led to the fall of Queen Cleopatra, research suggests
WORLD
shares56 views
WORLD
shares56 views

Environment may have partially led to the fall of Queen Cleopatra, research suggests

Panos - Oct 20, 2017

Environmental records and historic documents suggest a volcanic eruption could have aided the Romans in victory According to a report…

Greek astronomer in Germany discovers spindle-like galaxies
GREECE
shares46 views
GREECE
shares46 views

Greek astronomer in Germany discovers spindle-like galaxies

Panos - Oct 20, 2017

Athanasia Tatsi is another Greek scientist at the forefront of global scientific research this time in the field of Astronomy.…

Leave a Comment

Your email address will not be published.