Eurogroup’s decisions fully meet Greek positions, Staikouras says

“Today’s decisions fully meet Greek positions and priorities,” Finance Minister Christos Staikouras said late on Monday following a Eurogroup videoconference on the economic response to the coronavirus.

In particular, Greece has secured fiscal flexibility similar to that applied to all Eurozone member states, as noted by Eurogroup President Mario Centeno.

Asked about Greece fiscal restraints in Greece as a result of post-memorandum surveillance, he said “we have decided to make full use of the flexibility available to all member states.”

In this context, the finance minister said there is no a surplus target of 3.5 pct of GDP for Greece this year, while spending on countering the effects of the coronavirus is excluded from fiscal performance. At the same time, officials recognized the need for exempting costs to tackle the migration problem, Staikouras said.

The Finance Minister also said that additional important measures will be announced in the coming days.