The Minister of Finances Yanis Varoufakis underlined the Greek government’s determination to liberalize its economy, carry out reforms in the pension system and secure a reasonable primary surplus, in a article he wrote for the Il Sole 24 Ore newspaper.
Mr. Varoufakis however noted that by adopting further austerity measures in 2015 and 2016, the government will be unable to implement necessary reforms and as such, will be unable to fulfill creditor demands.
In his articles Mr. Varoufakis specified the reforms which the government is prepared to implement include an independent tax authority, reasonable primary surpluses, a meaningful reform of the country’s pension system, the liberalization of the product and services market, as well as a rational and ambitious privatization program.
However, the Finance Minister warned that if the creditors insist upon insufferably high primary surplus targets, then the Greek government will struggle to achieve these goals and commented that it will not and cannot accept a cure which over the past five past years has proven to be worse than the illness itself.
