Dijsselbloem estimates that no new recapitalization of banks is needed

His wish to work with the Greek government for both the swift completion of the third fiscal evaluation and the country’s exit from the program was expressed by Jeroen Dijsselbloem in his meetings with the prime minister and the government’s economic staff in Athens.

It is worthwhile the fact that the head of the Eurogroup spoke of a clear exit from the memorandum, suggesting that if everything goes well after August 2018, the country will not need to get into a credit line program.

However, what is important to keep as a message from the private meeting of Alexis Tsipras with the European official is what Mr Dijsselbloem told the Greek Prime Minister. That there is no question of bank recapitalization, which is an issue that the IMF is already arguing in favor of, but Athens does not even want to discuss this issue further. On this issue, however, the Greek government appears to have the support of the ECB and other European institutions claiming that there is no reason for a new recapitalization, as Greek banks are in a better position than they were during their last recapitalization.

Furthermore, Mr. Dijsselbloem appeared during his meeting with Euclid Tsakalotos and George Chouliarakis to note that no new measures will need to be taken if the government implements everything that has been agreed upon with the institutions, that is, all 95 prerequisites.

The prime minister’s office was happy to note and demonstrate its satisfaction with the results of the Eurogroup head visit as his statements are seen as yet another message of support for the government’s efforts to bring the country out from the fiscal crisis.

Dijsselbloem’s visit to Greece coincided with the formal exit of the country from the excessive deficit procedure by decision of the European Commission and reinforced the optimism of the Greek side for a gradual recovery of the economy.

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