Greek economy: If there is no agreement until June, a 4th program is inevitable

10 February 2017
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The Greek deputy Minister of Finance George Houliarakis was asked to give a speech and answer to questions in the London School of Economics. There he talked about the current negotiations between Greece and the lenders.

As he stated it is imperative for both sides to reach an agreement as the continues upcoming elections in many European countries will change the conditions making things even more difficult. He characteristically said that it is better to reach a not so good agreement now than to have a better one in five months time.

The upcoming elections are parliamentary elections in the Netherlands on March, Presidential election in France on April and federal elections in Germany on September.

Based on that he argued that those people who think it is a good idea to push the agreement to June because then they will have Greece cornered are mistaken as this will kill the program and a new series of negotiations for a 4th program will start.

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