Euro Working Group head Thomas Wieser was quoted by a Greek website this week as leaving open the possibility of additional austerity measures needed in Greece over the 2019-2020 period.
Euro Working Group head Thomas Wieser was quoted by a Greek website this week as leaving open the possibility of additional austerity measures needed in Greece over the 2019-2020 period.
Wieser, in statements carried by the insider.gr site, referred to measures that would, ostensibly, come after the third memorandum bailout ends in August 2018.
Just as gloomily, for the country and the beleaguered leftist-rightist coalition government in Athens, he also said creditors’ supervision of the Greek economy will continue after the memorandum ends – i.e. the bailout signed by the current leftist government in August 2015.
He said such supervision will continue vis-à-vis Greece until it pays offs 75 percent of the debts owed to its Euro zone partners, the ECB and ESM.
In fact, he said, such supervision will be “more intense” in the first years that in comparison with post-bailout Ireland, giving an example.
Wieser clarified that the framework to be followed in the Greek case differs from the other Euro zone members that needed a bailout, in reference to possible austerity measures after the bailout ends.