Bomb 'Ntaiselmploum: In 15 years it will take action for debt
At 15% of GDP per year delimit the debt of Greece by the eurozone governments, which are the largest creditors of Greece, under the negotiations for debt relief to Athens said in an interview with Reuters the president of the Eurogroup, Geroun Ntaiselmploum.
However, there are dilemmas and ambiguities in discussions about whether such relief should be front-loaded, whether it should be done gradually to compliance with certain conditions, or whether it should be implemented by a combination of these two options, will begin later this year after Greece successfully passed the first evaluation.
"Provide a broad understanding of the method we have to choose, to see that the annual financing needs for public debt," he said. "Second, there seems to be a wide understanding that a good model would be no limit to a maximum of 15% of GDP. And third, we are working on this with the European Commission and the International Monetary should be a common understanding of the scenarios: what are the realistic expectations in a normal scenario? Or in a worst-case scenario in terms of growth and inflation etc? ".
The Ntaiselmploum noted that an entirely front-loaded debt relief agreement might not be the best solution.
"We'll see if there are financial peaks over the next 30 years," he said. "The analysis of the ESM has shown that the first financial difficulties might arise in 15 years. If so, it would be strange to now try and limit them -is very far, "he added.
"But we will see -exartatai of the scenarios on which we are working with the IMF," he said.
According to him, "what I understand is that the IMF always works with the standard 15%, but if you say it's too high for Greece, then this is an issue that we should discuss with them."
At 15% of GDP per year delimit the debt of Greece by the eurozone governments, which are the largest creditors of Greece, under the negotiations for debt relief to Athens said in an interview with Reuters the president of the Eurogroup, Geroun Ntaiselmploum.
However, there are dilemmas and ambiguities in discussions about whether such relief should be front-loaded, whether it should be done gradually to compliance with certain conditions, or whether it should be implemented by a combination of these two options, will begin later this year after Greece successfully passed the first evaluation.
"Provide a broad understanding of the method we have to choose, to see that the annual financing needs for public debt," he said. "Second, there seems to be a wide understanding that a good model would be no limit to a maximum of 15% of GDP. And third, we are working on this with the European Commission and the International Monetary should be a common understanding of the scenarios: what are the realistic expectations in a normal scenario? Or in a worst-case scenario in terms of growth and inflation etc? ".
The Ntaiselmploum noted that an entirely front-loaded debt relief agreement might not be the best solution.
"We'll see if there are financial peaks over the next 30 years," he said. "The analysis of the ESM has shown that the first financial difficulties might arise in 15 years. If so, it would be strange to now try and limit them -is very far, "he added.
"But we will see -exartatai of the scenarios on which we are working with the IMF," he said.
According to him, "what I understand is that the IMF always works with the standard 15%, but if you say it's too high for Greece, then this is an issue that we should discuss with them."
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