Greek Finance Minister Yannis Stournaras has said another Greek debt restructuring is possible, but only on the condition that Greece secures a primary surplus. That will not be known before the end of 2013.
“Another restructuring would be welcome. We will not say no to another haircut. We express our arguments but it does not depend on us”, Stournaras said, adding that both Greece and the International Monetary Fund have spoken in favour of a haircut but the proposal was not accepted. The minister did stress, however, that the recent decision by the Eurogroup provides for a new reduction in the country’s debt if the Greek state manages to end this year with more revenues than expenses, excluding interest payments.
Stournaras also confirmed that following the affirmative parliamentary vote on tax reform last Friday and the law ratifying the Legislative Acts on Monday, the Euro Working Group of eurozone finance ministry officials will recommend that the Eurogroup scheduled for next Monday approve the disbursement of the January bailout tranche, which amounts to €9.2 billion.
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© Kathimerini
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