ECONOMY

Mitsotakis to meet Lagarde on Tuesday

mitsotakis-to-meet-lagarde-on-tuesday

Prime Minister Kyriakos Mitsotakis’ first meeting with the new head of the European Central Bank, Christine Lagarde, will take place on Tuesday afternoon in Frankfurt, in the context of the farewell dinner for outgoing ECB board member Benoit Coeure.

Although there is no agenda for that meeting, its significance is obvious, not only because the Greek premier will get the chance to exchange views with the French official, but also because it is certain some issues of common interest will be discussed.

Given that the focus of the ECB’s interest in Greece is currently the sensitive matter of the protection of borrowers’ primary residences and the adoption of a new framework for debtors’ insolvency, it is clear that the views to be exchanged will help form the basis of Greek government initiatives in the coming months.

Lagarde congratulated Athens last Thursday on the progress recorded in terms of growth and the primary surpluses, and reiterated that she considers the primary budget surplus target of 3.5 percent of gross domestic product to be excessively high. The government is obviously hoping that this will help it in its aim to achieve a reduction in the target in the coming year.