Tsakalotos to SYRIZA MPS: “We are at the beginning of the end”

In the Wednesday afternoon meeting of SYRIZA’s Parliamentary Group, the Minister of Finance Euclid Tsakalotos announced that …

In the Wednesday afternoon meeting of SYRIZA’s Parliamentary Group, the Minister of Finance Euclid Tsakalotos announced that “we are at the beginning of the end”.

According to the Finance Minister, the government will soon table bills on facilitating investments, tackling illicit tobacco and oil trade, allowing the voluntary declaration of untaxed funds and electronic payments.

When asked about the new privatization ‘superfund’, Mr. Tsakalotos reportedly commented that 25 billion will go towards the banks and a further 25 billion euros will go towards investments and the market. He also noted that TAIPED had set a target for generating 6.6 billion euros from privatizations.

The Alternate Minister of Finance Giorgos Houliarakis argued that the uncertainty will soon end and explained that 11 billion euros will be paid out to Greece. About 2 billion euros will be paid out immediately, while the agreement means that banks may be able to borrow funds with a 0% interest rate.

Regarding the automatic fiscal adjustment mechanism, the Ministers underlined that it will not come into effect, since the Greek government will achieve its bailout-mandated targets.

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