Ten-year bond a milestone in restoring the country’s confidence, Dimitris Tzanakopoulos says




“The 10-year bond is a milestone in restoring the country’s confidence and credibility, its ability to meet its financing needs by tapping the international markets. It is the first time, after about a decade, that the Greek government has managed to raise money by issuing a 10-year bond with an interest rate close to the historically low levels of 2004-2005. This shows that the country is now in a state of normality in terms of public debt servicing,” government spokesman Dimitris Tzanakopoulos said on Wednesday, in a interview with ‘Sto Kokino’ radio station.

“Citizens can understand who can lead the country in the post-programme reality and who is only capable of doom-mongering,” noted Tzanakopoulos.

Asked about primary surpluses and the main opposition’s announcement that it will seek to have these lowered if elected, Tzanakopoulos replied: “We should point out that when New Democracy was in government it had accepted primary surpluses averaging 4 pct of GDP up to 2031, while for the years 2016, 2017, 2018, it had agreed to primary surpluses of 4.5 pct.” He also noted that ND had not once managed to meet the targets it had set during the second programme.

The Greek government, in a very tough negotiation, succeeded in reducing these targets and creating a fiscal space of 15-20 billion euros between 2015 and 2018, while in the medium-term it had agreed a primary surplus target of 3.5 pct up to 2022 that also linked to measures for easing Greek debt, Tzanakopoulos pointed out. After 2022, the primary surplus will range from 2.0-2.1 pct on average, he added.

Source: ANA-MPA

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