FinMin: Initiatives in coming days aim at halting recession, return to growth rates

The initiatives the Greek government will take in the coming days and weeks aim exclusively at the economy's recovery, halting recession and a return to growth rates, finance minister Evangelos Venizelos said on Monday, prompted by a newspaper report of an "avalanche of new measures" arising from the updated Memorandum agreed on Saturday.
"The constant recycling of the well-known 'information', which is presented daily as new information, creates a sense of insecurity that obstructs the creative forces of the country," said Venizelos, who is also a government vice-president, commenting on an article appearing in the Athens daily Eleftherotypia.

According to the newspaper, the updated Memorandum signed on Saturday between the finance minister and the Troika, for the disbursement of the 12 billion euros 5th tranche of the 110 billion euro EU/IMF bailout loan, "contains tens of new, painful measures in addition those ratified by parliament last week".

Venizelos clarified that the Memorandum "does not contain anything that has not been presented in detail in parliament during the debate and ratification of the Medium-Term Fiscal Adjustment Programme and its Implementation Law".

"A fundamental prerequisite for the restructuring of the country is the prevalence of a climate of security as regards the framework within which we are acting," Venizelos said.

"The initiatives that must be undertaken in the next days and weeks have as their only target the recovery of the economy, halt of recession, and return to growth rates, to the benefit of the citizens, and chiefly the unemployed and the weaker income brackets," the finance minister concluded.

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