The aid deal secured for Greece at the Eurogroup on Friday may lead the country forward as it is an opportunity for its economy to reform, Finance Minister Euclid Tsakalotos told journalists after the end of the meeting of finance ministers in Brussels.
“After six months of very difficult negotiations with lots of ups and downs we finally an agreement. This deal is something which we hope will take Greece forward. It talks Greece forward in the sense that the financial system should be much more stable from now on,” Tsakalotos said, noting that the agreement excludes any bail in for depositors.
He said this means that the process of reversing the negative effects of capital controls will start very quickly and will speedily return the banks to where they were before, and “hopefully on a far firmer footing.”
The minister explained the deal has many opportunities for Greece. “It has an opportunity for Greek people to reform their public sector, to address the issue of corruption, the issue of tax evasion and a number of very important structural reforms.”