NEWS

Tsakalotos says elections will not be disruptive, calls on Greeks to return savings

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In comments in Parliament on Thursday, Finance Minister Euclid Tsakalotos said early elections would not lead to political instability as in the summer of 2012 and called on Greeks to return their savings to banks. 

Responding to a question submitted in the House by PASOK MP Dimitris Kremastinos, Tsakalotos said, "these elections which, as I hear, are ahead, will not be the same as those in 2012." "Now there is an agreement," he said, referring to Greece's third bailout which was given the final stamp of approval by the European Stability Mechanism on Wednesday. "There is a course ahead, a framework for the recapitalization of banks, the buffer of 15 billion euros, the gradual lifting of capital controls," he said,

"If the next government is stable, it will be able to handle the recapitalization of banks and non-performing loans. People can bring their money back from abroad."

Tsakalotos noted that a recent decision by eurozone finance ministers against any "bailin" of savings, have helped restore trust in the Greek banking system. "The Eurogroup decision guarantees all deposits," he said.