Greece is leaving the recession behind it and will not need a third bailout package, Greek Prime Minister Antonis Samaras apparently asserted in an interview with the German financial newspaper “Handelsblatt,” excerpts of which were published on the newspaper’s online version on Thursday. According to the article, Samaras also sees progress in terms of reducing Greece’s debt but noted that the country must continue with reforms.
The Greek premier expressed confidence that there will be no financing gap over the next two years that would make a third package of loans necessary, as the last financial aid package to Greece comes to an end this year.
In terms of reducing debt, Samaras was reported as saying that Greece will reduce the debt from 175 pct of GDP at present to under 110 pct of GDP by the year 2022, as agreed with the country’s Troika of international creditors, “provided that all participants meet their commitments.”
For Greece, this means continuing reforms and the agreed upon fiscal policy, while Greece’s creditors must come through with a commitment to discuss ways of relieving Greece’s debt, the prime minister added.
“One might imagine lower interest rates, longer repayment periods and additional grace periods,” Samaras stated.
In terms of relaxing the stability pact, Samaras appeared to be in favor of preserving its basic structures and noted that “competitiveness and growth go together. I do not see this as a dilemma.”
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