Dijsselbloem: Greece’s Exit from the Memorandum Should be Cautious

Eurogroup President Dijsselbloem attends a news conference after a Eurogroup meeting in Brussels

“It is premature to talk about a Greek exit from the Memorandum, as we should first conclude the fifth review of its economic development in November, and then in December we can discuss about what is going to happen in the future. So far, we have not received any official request from the Greek side. Yet, what all sides seem to agree is that the future plan should be sustainable and reliable, and this is the exact word which Greek Finance Minister Gikas Hardouvelis used: He desires a cautious exit from the Memorandum,” Jeroen Dijsselbloem, President of the Board of Governors of the European Stability Mechanism (ESM) and President of Eurogroup, said during a press conference following the Eurogroup meeting in Luxembourg yesterday.

In addition, referring to the steps of progress that the Greek economy has made, following the first Troika review, he underlined that “In many reforms, it was clear that extra work needed to be done. So we pushed the Greek authorities for a faster application of the previous reforms.” Regarding developments in the Greek political scene, Dijsselbloem warned that in the case of general elections, following the presidential election, Greece will be handled in a different way: “Programs are being written again and again, and the aim is a stable and sustainable public economy. This is the key for a sustainable future; planning what is going to happen next.”