Stathakis: There will be no unilateral cancellation of the debt

Stathakis: There will be no unilateral cancellation of the debt


By Spiros Sideris – Athens

The prospect of elections and the rise of SYRIZA in power will bring stability to the country, assess main opposition party SYRIZA MP, Giorgos Stathakis, and reiterated that there will be no unilateral cancellation of debt, but renegotiation of the loan agreement.

“The exit from the Memorandum, as the government was planning, failed completely. And the reason why it failed was that it was a very bad plan that had no prerequisites and consistency”, he said on the radio station “Vima FM”.

He added: “The government is apparently out of time and place, that is they are a long Memorandum government, which, however, is incompetent, weak and has no strategy to discuss things within the Memorandum policy so faithfully applied. SYRIZA says very simply that negotiation of the debt must come first, in order to become sustainable. This is the best signal for the markets.

Second, given that the Memorandum has failed, we must change policy. This is the key in essence, a change of economic policy.

And the third condition is that the two are logical and legitimate, but will not work if we do not take serious steps in Europe and tackle the strong multi-dimensional european problems. Whether, for example, the prospect of elections and the rise of SYRIZA is a stabilising factor for the country or not, is subjective, with the government considering that SYRIZA will be a destabilizing factor. But I personally think that SYRIZA will be a very big stabilisation factor, not only in Greece, that will create the very best conditions for the markets”.

He reiterated that “there will be no unilateral cancellation of debt”. “We have said this 100 times. The loan agreement – because it concerns the debt – will be renegotiated with our partners, with a view to make the debt sustainable. This is the number one point”, he explained.

According to Mr. Stathakis, “Europeans, under the political reality that will be formed in Greece, will necessarily discuss this part as well, otherwise the economy cannot go forward. It will be in a permanent state of crisis. The way things have evolved in Greece with the Memorandum, created an unsustainable situation. What was defined as Memorandum closed its cycle with dramatic results. The present government has completely failed. They implement the Memorandum faithfully, but failed completely. This government can no longer negotiate with the partners and the subjugation of its Memorandum philosophy. This is a task for another Greek government”, he added.