The Minister of Finances Yanis Varoufakis stressed the need to come to an agreement at the Eurogroup scheduled for the 24th of April, in accordance with February’s Eurogroup agreement.

Mr. Varoufakis, who gave an interview to financial newspaper Naftemporiki, further revealed five proposals in order to make the Greek public debt sustainable:

  1. Reasonable primary surpluses; A 1.5% surplus is more realistic that the recession-inducing 4.5% rate accepted by the previous governments
  2. A restructure of the debt (not necessarily a haircut of the nominal value) that associates payments with the growth rate of the GDP
  3. An investment package from the European Investment Bank and European Investment Fund for the private sector
  4. The restructuring of non-serviceable loans, via the foundation of a “bad bank”, from funds left over from the Financial Stability Fund
  5. Meaningful reforms that will benefit creative citizens and businesses that trade in goods with an exporting outlook