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Regling: ‘No indication’ Greek gov’t will abandon primary surplus target

TAGS: Finance

The Greek government has not indicated that it intends to walk away from the agreed primary surplus target of 3.5 percent of GDP, the head of the European Stability Mechanism (ESM) Klaus Regling said in an interview with state-run broadcaster ERT late Wednesday.

“There was an agreement in August and it was also linked to the debt decisions of the Eurogroup in June last year, that even after the end of the program, Greece would continue certain reforms that are already agreed and also stick to previous reforms,” Regling told ERT.

“And this includes, for example, the primary surplus of 3.5 percent of GDP, which is agreed until 2022, and I see no indication that the government would walk away from that. The government does not question that target, which was a core element of the program and also of the post-program period.”

Regling said the second enhanced surveillance report that was discussed in the Eurogroup earlier this week showed that there is progress “in many areas but not in all.”

One of the main pending prior actions is the new legal framework for the protection of primary residences.

He said it is possible to complete them in time for the next Eurogroup on April 5 if the government works on the remaining details. 

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