Eurogroup should be ‘realistic’ on Greece’s fiscal targets, says Dijsselbloem

TAGS: Economy, EU

The chair of the Eurogroup of eurozone finance ministers said on Tuesday that European lenders should be “realistic” in the fiscal targets they set for Greece after 2018, when a program of financial aid will end.

“We need to be realistic,” Jeroen Dijsselbloem told the economic affairs committee of the European Parliament, saying that the International Monetary Fund has a point when it says “running a primary surplus of 3.5 percent for a very long time is a huge thing to ask.”

Dijsselbloem’s remarks come a few days before a Eurogroup meeting in Brussels on December 5, when ministers are set to decide for how long Greece should maintain a primary budget surplus – which excludes debt servicing costs – of 3.5 percent after 2018, when its current program of financial aid expires.