Regling: Greece will face financial problems sooner or later

26 January 2016
70 Views

President of the European Stability Mechanism (ESM) Klaus Regling said in an interview with French Le Figaro that although he sees signs of improvement regarding the relations between Greece and its international creditors, Greece will face financial problems sooner or later.

Mr. Regling stressed that “there is a completely different atmosphere now. The first six months of the previous year was a disaster” since back then “the Greek finance minister did not cooperate at all with the European institutions” he added referring to Yanis Varoufakis.

The head of the ESM referred also to the negotiations for pension and social security reforms saying that “pension reforms are tough for all countries, because they may question the acquired rights. This is, therefore, a serious phase and the Greek government has to go through it.”

“But it is encouraging to see that the starting point between Greece and its creditors are not so different,” he added.

Mentioning that Prime Minister Alexis Tsipras has stated that the current system is unsustainable, he warned that if the country does nothing, Greece will not have money to fund the pension system in the next five years.

“They won’t need financial aid as of tomorrow. But, they will face financial problems sooner or later”.

You may be interested

Anafi: Straight out of the Greek Mythology
GREECE
shares64 views
GREECE
shares64 views

Anafi: Straight out of the Greek Mythology

Panos - Aug 17, 2017

Greek Mythology has it that Anáfi, a paradise of pristine beauty and “exotic” beaches washed by crystal clear waters, had…

Greek Government to Invest in Kastellorizo Island Desalination
FINANCE
shares81 views
FINANCE
shares81 views

Greek Government to Invest in Kastellorizo Island Desalination

Panos - Aug 17, 2017

Greece’s General Secretariat for the Aegean and Island Policy and the country’s shipping industry have signed a €870,000 ($1 million)…

How will Turkey survive until 2019?
GREECE
shares74 views
GREECE
shares74 views

How will Turkey survive until 2019?

Panos - Aug 17, 2017

Politics in Turkey is entering a highly stressful two years this fall. Since the referendum, President Recep Tayyip Erdoğan seems…

Leave a Comment

Your email address will not be published.