SYRIZA proposals "wrong and unclear"

The ministry's statement read, "Following a comprehensive review with services, it turns out that the immediate fiscal cost of the announcements which will burden the public debt - in the most conservative estimates and only for the first year - will exceed 17.2 billion euros (without taking into consideration the cost of cancelling private debts, which, if included, would raise the total to 17.2 billion euros) against the 9.362 billion euros that SYRIZA claims (11.362 billion euros total cost, minus 2 billion euros for the cancellation of private debts)."

The 17.2 billion euros "would increase the country's deficit by about 9 percentage points of the GDP, compared to the 1.5% surplus of today, leading the country back into a fiscal crisis," it added.

In conclusion, it said, SYRIZA's proposal for exiting the crisis is based on the wrong recipe and overturns the effort to stabilize the economy. It does not resolve problems, while it creates new ones. It leads to a loss of credibility, either to a new loan with high cost or to a new taxation of the middle class, the downturn of the financial system, the fleeing of capital from Greece and a rift with our partners."