Government Spokesperson Dimitris Tzanakopoulos on Tuesday said that Greece is willing to agree on contingency fiscal measures beyond 2018 in order to close the second review of the bailout program.
Tzanakopoulos called the measures “enhanced guarantee mechanism,” which is similar to the “cutter,” the contingency measures already in place for cuts in state spending in case budget targets are not met.
The government spokesman said that Athens is willing to agree to these measures in order to appease the International Monetary Fund, which insists that the fiscal targets Greece has agreed on cannot be met. He added that Athens will agree to the measures if all else is agreed on and the bailout program review is completed.
Tzanakopoulos, however, declined to clarify which measures are included in the “enhanced guarantee mechanism.” He said that the proposed mechanism will not have an impact on Greek people and the economy. He also expressed his confidence that the contingency measures will not be needed because Athens will achieve his objectives.
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