Deputy Prime Minister and recently appointed Economy Minister Yannis Dragasakis on Wednesday reiterated his categorical opposition to the prospect of a precautionary credit line for Greece after the third bailout ends next August.
Deputy Prime Minister and recently appointed Economy Minister Yannis Dragasakis on Wednesday reiterated his categorical opposition to the prospect of a precautionary credit line for Greece after the third bailout ends next August.
Dragasakis, a LSE-educated economist and veteran leftist politician in the country, said such a prospect would equal a "new memorandum". Instead, he merely echoed the leftist-rightist coalition government's preference for a "cash buffer" in the period when Greece will have to refinance its debt via sovereign market borrowing.
Dragasakis said 4.5 billion euros have already been collected for a future "cash buffer".