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Athens remains optimistic clear and just solution is possible

Athens remains optimistic clear and just solution is possible
Greek Prime Minister Alexis Tsipras has urged the country’s Eurozone partners to provide a “clear, just and viable solution” to the Greek debt issue when the Eurogoup of finance ministers next meets on June 15.

Speaking at the Concordia Europe Summit on Wednesday, Tsipras reiterated that it is “the turn of our creditors and partners to do what they could and what they owe. What we deserve based on agreements”.

The premier sounded optimistic that an agreement to outline debt relief measures for Greece could be reached, on the basis of “specific solutions”, as long as this is not prevented by expediencies that will block it.

Meanwhile, in an interview with a German newspaper, Greece’s Finance Minister, Euclid Tsakalotos, also said that a deal with creditors is possible.

“I believe that with some goodwill from all sides, we can reach an agreement at the Eurogroup in June, which will provide clarity on the issue of Greek debt, so that we can ensure that the Greek economy will continue to build on its path towards a full recovery,” Tsakalotos told Handelsblatt daily.

Tsakalotos explained that an agreement would have to provide clarity on the debt and show investors what they can expect, in order to put Greece on a path towards debt sustainability in coming years.

“If there’s goodwill, then the pursuit of such a solution is not something that exceeds the limits of human intelligence,” the minister added.

Asked if the Greek government will withdraw the austerity measures legislated for the 2019-2020 period if debt relief measures are not specified, he commented that it would be “somewhat weird to have a comprehensive package of reforms with which the IMF has agreed and at the same time the latter refuses to participate in the program itself”.

The upcoming June 15 Eurogroup meeting is expected to be decisive for the conclusion of the second review of the Greek program and specifying whatever medium-term debt relief. A positive development on both fronts could pave the way for the inclusion of Greek bonds in the ECB’s quantitative easing scheme. Such an event would almost certainly mean Athens would regain bond market access.

On Wednesday Reuters quoted an unnamed Greek government source as saying any return to the markets with a five-year bond, for instance, would have to come with a yield below 5 percent./ΙΒΝΑ

Photo: IBNA/Spiros Sideris

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