Tsakalotos: ECB proposal for precautionary credit would merely delay return to ‘normalcy’

15 May 2018
776 Views

Greek Finance Minister Euclid Tsakalotos on Tuesday dismissed the latest high-profile comments by a top European Central Bank (ECB) official regarding a precautionary credit line for Greece after the current – and third consecutive – bailout ends in August 2018.

Speaking a day after a “N” interview by the ECB mission chief in Greece, Francesco Drudi, clearly outlining the Eurozone central bank’s position for a post-bailout credit line, Tsakalotos said such a development would merely add another year of delay “in our return to normalcy”.

“Normalcy” and a “clean exit” from the memorandum era are the themes being vigorously promoted by the poll-trailing Tsipras government to shore up sagging public support and increasingly hard-pressed Parliament deputies backing the coalition.

“The issue is for the country to stand on its own two feet. Everyone should assume their responsibilities … with a precautionary credit line, i.e. another program, the ratings agencies will not upgrade bonds to investment grade,” he added.

You may be interested

Egypt: No talks with Turkey on maritime zones
POLITICS
shares8 views
POLITICS
shares8 views

Egypt: No talks with Turkey on maritime zones

makis - Mar 08, 2021

Egypt and Turkey did not engage in any talks about the demarcation of maritime zones between the two nations, it…

Coronavirus Greece: 2,215 new cases, 451 intubated, 32 deaths
GREECE
shares61 views
GREECE
shares61 views

Coronavirus Greece: 2,215 new cases, 451 intubated, 32 deaths

makis - Mar 05, 2021

Greece announced that the new laboratory-confirmed cases of coronavirus recorded in the last 24 hours are 2,215, of which 15…

Great city routes to explore on foot in Athens
ART
shares66 views
ART
shares66 views

Great city routes to explore on foot in Athens

Panos - Mar 05, 2021

Athens reveals its best charms to those who put one foot in front of the other! Whether you’re looking to…

Leave a Comment

Your email address will not be published.