Tsakalotos: Valletta Agreement Will Lead to Solution before Summer
Monday, 10 April 2017
The agreement on Greece that was reached in principle in Valletta is certain to yield a result long before the summer, Finance Minister Euclid Tsakalotos said on Friday, during a press conference after the Eurogroup in Malta.
Tsakalotos reported that the same optimism that a solution on Greece will be found before the summer was also shared by European Stability Mechanism (ESM) chief Klaus Regling, Benoit Coeure of the European Central Bank (ECB), European Commissioner for Economic and Financial Affairs Pierre Moscovici and Eurogroup President Jeroen Dijsselbloem.
Outlining aspects of the agreement reached in Valletta, the finance minister explained that there would be review of the country's fiscal course after 2018 once the Greek programme had ended in the August of that year. On the basis of this, there will be a decision on whether Greece remains on track to meet its targets and whether the measures scheduled for 2020 have to be moved forward to 2019. He stressed, however, that once the programme ends Greece will be a country that has exited the memorandum programmes and is without supervision, in the same way as Ireland and Portugal.