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Bernd Lucke: Greece is not on its way to recovery

Date

04 Oct 2016

Sections

Euro & Finance
Med & South

Strasbourg, 4th October 2016 - The professor for economics and MEP Bernd Lucke criticised the European Commission’s evaluation of the economic reforms in Greece during today’s debate in the European Parliament in Strasbourg with Economic and Monetary Affairs Commissioner Pierre Moscovici. Lucke referred to a debt sustainability analysis of the International Monetary Fund (IMF) showing that Greece was virtually bankrupt. In this analysis the IMF warned of unrealistic expectations and prognoses especially regarding the development of the primary budgetary surplus. Lucke again pleaded for a debt relief for Greece.

„The commission is misleading the European public by pretending Greece was on its way to recovery. The IMF has clearly shown the hopelessness of Greece’s situation. That is also why the IMF is refusing to take part in another aid package”, says Lucke.

Lucke emphasises that “Citizens are deliberately deceived about the progress of the reforms. Without a debt relief Greece can never be saved. The IMF is chief witness.“

ENDS

Notes: Link to the report https://www.imf.org/external/pubs/ft/scr/2016/cr16130.pdf 

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