FinMin Staikouras satisfied with Lagarde's views on reviewing primary surplus targets

FinMin Staikouras satisfied with Lagarde's views on reviewing primary surplus targets

Finance Minister Christos Staikouras on Wednesday expressed his contentment with the views of European Central Bank (ECB) President-elect Christine Lagarde concerning the need to review the 3.5 pct primary surplus target for Greece, which she said was "excessive" and put too much pressure on the recovery of the Greek economy.
Staikouras said that "it seems there is a positive momentum being created in the desired direction by the leadership of the institutions."
As he noted, the New Democracy government's primary objective is the reduction of high primary surpluses that the SYRIZA government agreed with the institutions, even at low growth rates. He pointed out that "the government is trying diligently and persistently to create the necessary conditions and prerequisites to achieve this objective".
Lagarde, who is giving up leadership of the International Monetary Fund (IMF) to take over from Mario Draghi as the head of the ECB, suggested that Greece's commitment to a 3.5 pct of GDP primary surplus target should be reviewed during her hearing before the European Parliament Committee on Economic and Monetary Affairs in Brussels on Wednesday.

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.