Regling: Tsipras govt in clear-cut violation of procedures; risk of fiscal target not being met

13 June 2019
508 Views

Fulfilling terms it had agreed to with European creditors in 2018 is an absolutely necessary condition for further debt relief measures, ESM Managing Director Klaus Regling warned on Thursday, confirming the now frigid relations between the current, and outgoing, Tsipras government and the former.

In statements on the occasion of the presentation of the Eurozone emergency fund’s annual report, Regling expressed his displeasure over the fact that the leftist Tsipras government failed to consult with creditors prior to abolishing a pre-legislated reduction in the annual tax-free income tax threshold, which was set for implementation on Jan. 1, 2020.

Alexis Tsipras and his leftist government announced various modest tax breaks, bonuses and other spending measures just prior to European Parliament elections and after electoral defeats in the latter and local government races, viewed as a bid to shore up voter approval ratings. Nevertheless, Tsipras was forced to resign and request snap elections for July 7, with all mainstream opinion polls showing him and his SYRIZA badly trailing center-right New Democracy.

Just as ominously, Regling warned that Greece risked missing this year’s annual primary budget surplus target by a wide margin, due to the abruptly announced measures.

The powerful ESM chief also didn’t mince his words in saying that the action was a clear-cut violation of the procedure.

You may be interested

All retail stores to open on Monday in Greece
GREECE
shares40 views
GREECE
shares40 views

All retail stores to open on Monday in Greece

makis - Jan 15, 2021

The Expert infectious disease team has proposed opening retail stores nationwide from Monday via the ‘click in shop’ method, while…

Hellenic Air Force: How low can you go?
DEFENCE
shares52 views
DEFENCE
shares52 views

Hellenic Air Force: How low can you go?

Panos - Jan 15, 2021

In the last few days a video from an Helenic Air Force Base has gone viral. It demonstrates the level…

How Fast Is 5G? (infographic)
GREECE
shares53 views
GREECE
shares53 views

How Fast Is 5G? (infographic)

Panos - Jan 15, 2021

As Apple is getting ready to ship the new iPhone 12 this week, much has been written about the new iPhones’ standout feature: 5G.…

Leave a Comment

Your email address will not be published.