Stathakis: We did the best we could under the circumstances!

The compromise proposals are tough but fall short of the cuts that creditors had demanded

Economy Minister George Stathakis told private MEGA TV on Wednesday that the Radical Left Coalition (SYRIZA) government “achieved the most balaned agreement (with creditors) taking into account the circumstances.”

The minister said that “lenders initially demanded direct pension and wage cuts and an overall VAT hike in certain categories.”

Stathakis explained that the single real estate tax (ENFIA) that his government had been opposed to while in the opposition could not be scrapped. He said that if it were abolished, then there would need to be equivalent measures to counterbalance the decline in revenue funding.

“In the September 2016 budget, we will tell you if and what you have to pay,” said the ministerwhen asked if ENFIA would continue to exist in 2016.
Though there was a marginal recession in the first quarter, the minister predicted that there would be growth at around 1.5% for the Greek economy in 2015.