French ambassador: I cannot imagine a 4th Greek bailout

By Vassilis Kostoulas
[email protected]

French ambassador to Greece Christophe Chantepy underlined this month that he cannot fathom a fourth bailout for the east Mediterranean country, while emphasizing that the second review of the Greek program must conclude in order for the debt issue to come into the forefront.

In an interview with "N" last week, the top French diplomat in Athens said that with the conclusion of the now delayed second review, detailed medium-term debt relief measures can be spelled out, as well as the increasingly acute matter of the exact level of targets for primary budget surpluses as a percentage of GDP after 2018.

Chantepy maintained that Paris is meeting its own commitments to its Eurozone partners, something he said is making the French economy more attractive.

In taking a more positive view of recent developments in Greece, he also said he considers that labor costs in crisis-plagued have decreased, despite recent hikes in taxes and social security contributions. Lower labor sector costs mean a more attractive investment landscape, as he noted.

Additionally, Chantepy cited an improvement in the tax collection system in Greece, while at the same time mentioning an initiative to develop a Greek-French innovative business platform.

Turning away from the "Greek program" and Europe-wide economic concerns, the French ambassador remarked that "we're at war", in reference to various terrorist attacks over the recent period in the heart of European civilization -- attacks attributed to ISIS.

Asked about next year's French presidential elections, he said that "some are tabling proposals and others are investing in fear", a clear reproach to the wave of populism that has spread over Europe in the past few years.

Finally, he called ongoing negotiations over a solution to the protracted Cyprus problem "difficult but substantive".