Dragasakis on the Eurogroup decision and the next three goals for Greece

8 December 2016
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Government Vice President Yannis Dragasakis commented on the outcome of the recent Eurogroup and how Greece may benefit from the decision, during a recent conference of leftist economists.

According to the VP, it is highly important to ensure a stable interest rate for a large part f the debt, which will in turn encourage stable and predictable circumstances in Greece. Mr. Dragasakis explained that the most important of the short-term measures agreed upon is securing stable low interest rates for long period.

The Vice President also referred to three goals for the next period. The first goals is to complete the second bailout program review as soon as possible, being included in the European Central Bank’s quantitative easing program and making ‘trial’ return to the markets in 2017 (with a full return in 2018).

The second goal is to complete the bailout program in 2018 without any additional measures, thus putting an end to the bailouts and restoring political autonomy and equity in Europe. The third goal, Mr. Dragasakis noted, is to introduce a new growth model that will allow post-bailout Greece to overcome the crisis once and for all.

“The national goal is establishing powerful rates of fair and sustainable growth. The surplus targets must depend on and be linked to growth. The pursuit of surpluses, even very small ones, without growth makes no economic sense and has no social benefit” the VP argued.

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