Measures to be finalized by early next week

The measures amounting to 11.5 billion euros for the next couple of years will have been finalized by early next week, the government said on Monday, four days before the arrival of its creditors’ representatives in Athens.

Speaking on Alpha Radio, government spokesman Simos Kedikoglou stated that «we are striving to find the fairest possible solution at a very difficult moment for decisions that no one would want to make, but are necessary and are the last ones.”

He added that the measures will come with growth policies and noted that «these 11.5 billion euros are the amount that has to be saved for us to start regaining our financial independence. It is what is missing for revenues and expenditure to even out.”

Kedikoglou clarified that besides the amount reserved for the recapitalization of the banking system from the next bailout tranche of 31.5 billion euros, «a major slice will go to the repayment of the state’s debts.”

July data showed on Monday that the state’s overdue debts to the private sector amounted to 6.67 billion euros. Most of that concerns social security funds and hospitals.

“What we want is for the banks’ recapitalization to lead to the strengthening of liquidity, particularly of small and medium-sized enterprises. We need cash flow immediately, for growth to start,» the government spokesman stated.

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