Log in
A+ A A-

ND: Greece in a fourth unofficial memorandum

Featured ND: Greece in a fourth unofficial memorandum

"What we now have is an unofficial fourth memorandum... firstly because fiscal targets remain high, secondly because [the country's] assets remain bound for a century and thirdly because the country is still in state of enhanced surveillance," said New Democracy (ND) shadow finance minister Christos Staikouras to "Praktoreio 104.9 FM" on Wednesday.

"The country has exited the programme but the memorandum policies remain and are being implemented. The government failed because it was not credible, because it was the only country in Europe that, in four years, did not take advantage of the quantitative easing programme that would have reduced borrowing costs, it failed because it imposed capital controls and did not implement reforms that would be viewed positively by the markets, it failed because it overtaxed households and enterprises and bled the economy dry of liquidity," Staikouras said.