The Governor of the Bank of Greece Yannis Stournaras met with the head of the European Stability Mechanism Klaus Regling on Tuesday morning and discussed the future prospects of the Greek economy.
During the meeting, the Greek central banker underlined how the completion of the first bailout review and the 7.5 billion euro tranche recently approved by the ESM set the foundation for the country’s recovery.
Reports suggest that the European Central Bank (ECB) is likely to announce on Wednesday that it will relax its lending conditions towards Greek banks, thus improving liquidity in the domestic banking sector.
Earlier in the morning, Regling in statements after a meeting with Finance Minister Euclid Tsakalotos on Tuesday made a call to respect the target for the primary surplus of 3.5 pct of GDP, as it is part of last summer’s agreement.
Asked whether the target can be reduced to 2 pct or 1.5 of GDP (as the IMF demands), the ESM head said that “I will have to respect the agreement.”
On his part, the Finance Minister said that two parallel processes, one for debt relief and one for the implementation of prior actions, will be ongoing until the end of the year.
Sources: ANA-MPA, tovima.gr
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
