NEWS

Tsakalotos hopes ‘reason will prevail’ in pension talks

TAGS: Economy, Politics

Finance Minister Euclid Tsakalotos said on Wednesday he hoped “reason will prevail” in talks with Greece’s lenders and they will agree that pensions do not need to be cut further in 2019.

“The pension cuts are not a structural measure. It doesn’t affect the viability of the pension system,” he was quoted as saying in an interview with news website newport.gr.

“Our arguments are logical. We have explained them to the institutions and we will present them at the highest political level. We believe logic will prevail,” he said.

Tsakalotos noted there is now fiscal space to introduce measures that will help society and economic growth.

The minister will be travelling to London on Wednesday and Thursday to meet with foreign investors, in the first post-bailout roadshow aiming to attract foreign capital.

According to finance ministry sources, Tsakalotos will present the macroeconomic framework in which Greek companies operate, against the backdrop of new arrangements that facilitate debt repayment.

He is not expected to promote a Greek bond issue, which at any rate is not expected to be held in the remaining of 2018.

The 13th roadshow is organised by the Athens Stock Exchange.

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