• tsa

Gargantuan-Αusterity ahead: 4,5-5 billion Euros the measures required for 2019

For a handful of…”counter-measures”


The creditors are willing to accept the counter-measures the Greek side wants only if measures of an extra 1-1,5 bn Euros pass from the Greek Parliament. But even that is not enough for them, as they want these counter-measures to be limited only to businesses and not to apply for households as well.

The creditors are looking forward to totally unrealistic primary surpluses of 4-4,5% of the GDP for 2019, a talk that has its origins in the counter-measures discussion the government begun.

As if the 3,6 bn Euros the creditors ask are not enough, they want a new intermediate program for 2018-2021 for an extra 1-1,5 dn Euros (or 0,5%-0,9% of the GDP) that will create the necessary fiscal space for the 1,5 bn Euros counter-measures.