George Stathakis: Pension cuts will be avoided

We will avoid making pension cuts as the prime minister pledged at the Thessaloniki International Fair (TIF), Environment and Energy Minister George Stathakis said on Monday.

He also said that Greece will meet the targets set but he added that economic policy is a responsibility of the Greek government.

Stathakis said that there is sufficient fiscal ‘space’ to avoid the cuts as there will be an extra surplus, above the 3.5 percent of GDP surplus target that has been set, and as a result there is room to manoeuvre.

On the exit to the markets and the Greek bonds, he said: We are closely monitoring the interest rate, which affects the economy, the banks and enterprises. There were some fluctuations as a result of external factors (Italy and others) in addition to the fact that the country exited the memoranda 20 days ago. However, low interest rates demonstrate the success of the programme.

Source ANA-MPA
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