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Greece in April will present a reform-based growth plan to follow up on its expiring EU rescue bailout, the finance minister said in statements issued Wednesday.
‘We have promised to present the Greek growth programme (after April 8),’ Finance Minister Euclid Tsakalotos said in statements made Tuesday in Brussels.
‘We must take Greece’s profile into account, namely many small and medium-sized businesses and a large agricultural sector,’ Tsakalotos said.
The European Union has urged Greece to create its own roadmap of reforms when its multi-billion bailout ends in August.
‘After the programme, everything must be based on a Greek-owned and Greek-designed growth strategy. I think the sooner this growth strategy is elaborated, the better,’ EU economic affairs commissioner Pierre Moscovici said during a recent visit to Athens.
Greece says its economy is expected to grow by 2.5 percent this year, compared to 1.6 percent in 2017.
France has proposed a mechanism under which Greece can pay more to service its debt when its economy grows, and less when it stagnates.
Tsakalotos also addressed a reported row with European Central Bank President Mario Draghi at a Monday meeting, apparently over the questionable performance of a recently-issued seven-year bond.
‘I think Mario Draghi and (EU rescue fund chief) Klaus Regling were overly pessimistic,’ Tsakalotos said.
‘There’s uncertainty on the markets as regards Greece, but let’s not exaggerate,’ the minister said, defending the bond issue as ‘very successful’ in a climate of global market turbulence.