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Saturday, March 14, 2015

Greek FinMin Varoufakis: Govt Can Delay Some Pre-Election Promises

The Greek government wants a final deal with its EU partners by April 20, or even sooner, and is prepared to delay implementation of some pre-election promises in order to win their trust and achieve this, Greece’s Finance Minister Yanis Varoufakis said on Friday, addressing a press conference held on the sidelines of the Ambrosetti Forum, an annual economic forum held at Villa d’Este in Cernobbio (Como), Italy, each year. He noted that the age of conflict and warring alliances in Europe is firmly in the past, and that in recent decades, Europe has wanted “to guarantee a new starting point” and adopt a new logic of cooperation within and outside its borders. According to Italian media, Varoufakis said that the Greek government is certain it can stabilize the country’s economy and European society in the coming weeks, completing the agreement reached in February. All sides made a commitment to reach a final agreement by April 20 and Greece hopes to achieve this sooner in terms of reforms needed to stabilize the country and create conditions for a future economic recovery, the Minister said. At the end of this interim period in June, Varoufakis predicts that there will be a “contract” between Europe and Greece that aims at the growth of the Greek economy. He said this will require tackling a series of problems currently faced by Greek society but in ways that economists described as “incentive-compatible.” Based on Italian media reports, the Greek Minister expressed hope that the “European Central Bank will guarantee the same flexibility as in 2012″ in terms of Greece’s leeway to raise money by issuing t-bills and also pointed out that Greece is not seeking help outside of Europe. He noted that the government is prepared to delay implementation of some of its pre-election promises and is not populist, with the measures of its program targeting those now living on or below the poverty line. (source: ana-mpa)


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