Eurozone Dijsselbloem Said Greece Needs Clean Bailout

September 26, 2017 Share Print 0

The eurozone’s top official said Monday that Greece and its European creditors are on a good path to completing the latest round of bailout talks, with a view to a “clean exit” from strict fiscal supervision.

Jeroen Dijsselbloem said the recession-battered country is regaining credibility, with a “very strong” fiscal performance in 2016 and 2017.

“A clean exit, and full exit in August of next year — that’s our common goal so that Greece is once again independent financially and sovereign in its decision-making,” Dijsselbloem said after meetings with Prime Minister Alexis Tsipras and top financial officials in Athens.

He renewed a European pledge to provide additional relief for repayment of Greeks staggering national debt that is nearly 180 percent of gross domestic product.

“At the beginning of next year, we will design a mechanism to make sure that more debt relief will come in place over time if needed and if the growth is disappointing.”

Greece’s once anti-bailout left-wing government has promised to speed up cost-cutting reforms in the next few months. And George Chouliarakis, the deputy finance minister, said the government planned to tap private bond markets “several times” before the end of the rescue program.

via Mainichi

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.