Tsakalotos: If the review does not conclude in February we are in trouble”

9 February 2016
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The Minister of Finances Euclid Tsakalotos issued a warning on Monday regarding the Geek bailout program review, arguing that it must conclude by the end of February, otherwise Greece will be “in trouble” if it carries on into May or June.

Mr. Tsakalotos appeared before the economic affairs committee in Parliament on Monday and explained the problems that have emerged in the negotiations with the institutions, while stressing the tight time table and deadlines to complete the review. Unless the review concludes, the talks on debt relief will not begin.

According to the Finance Minister, the institutions agree with the “architecture of Greek proposals”, but disagree on some of the figures. As such, he noted, the government must convince that the goals and targets can be met. Mr. Tsakalotos added that there will be only two weeks to complete the review after the institutions return to Athens, otherwise the economy will remain trapped in a vicious cycle.

Finally, the Minister of Finances stated that the planned changes in employment are not a prerequisite to complete the first bailout program review and estimated that the “reform fatigue” in Greek society is “justified”.

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