Greek PM is clear: Greece will go to the bond markets after...

Greek PM is clear: Greece will go to the bond markets after the summer of 2018!

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“The skein began to unfold. Greece is being released gradually, leaving behind the gradual recession and shaping the conditions for leaving the memorandums, with its own plan for a new Greece, more productive and fair”, stressed Prime Minister Alexis Tsipras, in his speech at the Economist conference on Thursday night.

As the Prime Minister said, insisting on his own “success story”, steady over-performance over fiscal targets was the key to recovering the country’s credibility and a solid basis for the next critical steps of the Greek economy.

Mr. Tsipras noted that this was possible, without repeating the deadlocks and the devastating consequences of an unprecedented aggressive fiscal adjustment that took place in the period 2010-2014 and proved to be absolutely disastrous for the economy as well as for the whole Greek society.

“We have implemented an extensive reform program to create a safe environment that will help to develop investment. A framework to build on the productive capacity of the country”, he underlined.

As he said, this was done, although there were proposals from the creditors, that were on the verge of “economic irrationality”.

“There is an idea according to which Greece must rely on a “labor-intensive” economy to grow. A form that leads to wage cuts and work market deregulation. Is this model compatible with a country that is at the core of the EU?” he wondered.

“Greece will not go now to the markets sheltered in a health zone for communication purposes only. Greece will come out with her powers in terms of a viable outlook” the prime minister said, leaving aside the over-optimistic scenarios according to which the country could go to the markets in 2017, even as a test.

“That’s why Greece” the Prime Minister underscored, “will not seek a credit line with new commitments in the summer of 2018, that is, a covert new memorandum to bid farewell to the program, but after the June 15th decision, we are positive that it will come out on its own strength and will bid farewell to the memorandums and this long-term suffering of Greek society”.


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