Pigasse: “Troika was wrong – Debt write off at €100 billion for Greece”

Matthieu Pigasse, head of the Lazard investment bank in Paris, which advises the Greek government on its debt restructuring, said Tuesday that the troika was wrong on imposing austerity measures in Greece and has led the country’s economy to a deadend.

The Lazard official told France Inter radio station that the policy followed by the troika (IMF, ECB and the European Commission) is wrong and has brought Greece to a dead end and could lead Europe as well to the same position.

Pigasse added that a restructuring of the Greek debt is inevitable and that the total debt of the country will be reduced by about €100 billion in order to be have an acceptable ratio of debt to Gross Domestic Product.

It should be noted that Matthieu Pigasse met with Greek finance minister Yanis Varoufakis at the Baltimore hotel in Paris on Sunday, February 1^st, while a team of Lazard members has been stationed at the Greek ministry of Finance the past 4 days as it is working on the Greek positions ahead of tommorow’s Eurogroup.