Regling: Greece will face financial problems sooner or later

26 January 2016
749 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

Covid-19 Greece – 566 new cases and 30 deaths on Tuesday
GREECE
shares17 views
GREECE
shares17 views

Covid-19 Greece – 566 new cases and 30 deaths on Tuesday

makis - Jan 20, 2021

The Greek authorities announced 566 new cases of the new coronavirus infection (COVID-19) Tuesday, of which 17 were identified after…

Mitsotakis: Our seas are doubling – We reserve the right to expand our territorial waters in Crete & elsewhere
GREECE
shares14 views
GREECE
shares14 views

Mitsotakis: Our seas are doubling – We reserve the right to expand our territorial waters in Crete & elsewhere

makis - Jan 20, 2021

“We reserve the right to extend the territorial waters in Crete and elsewhere when we choose”, said the Greek Prime…

The award-winning Greek designer of Alfa Romeo
GREECE
shares25 views
GREECE
shares25 views

The award-winning Greek designer of Alfa Romeo

Panos - Jan 20, 2021

From the city of Kozani in Macedonia, Greece, to the world-renowned designing building of a global car manufacturer, Alfa Romeo,…

Leave a Comment

Your email address will not be published.