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Stournaras tries to strike a balance between Greece and lenders

The war for austerity measures has started

Newsroom June 6 07:35

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Following the new developments, Finance Minister Yannis Stournaras issued a rather unusually strict – for those who know him – statement in respond to the statement of the European Commission regarding the removal of Mr Theoharis. Mr Stournaras stressed that “the European Commission should not express any concern. Those accomplished in Greece, have been accomplished thanks to the responsibility of the government, the MPs who support it and especially the sacrifices of Greek people,”.

Although in many cases Mr Stournaras referred and publicly defended “the sacrifices of Greek people”, the reference to the contribution of the MPs at this moment was quite unexpected, but shows that Mr Stournaras tries to to strike a balance between Greece and lenders while he attempts to maintain the trust of the parties supporting the government, so as to continue his career in the Ministry of Finance or the Bank of Greece.

Mr Stournaras, though, states that “he wants and he does not want to remain” to the Ministry of Finance, as his position is extremely tactful, while the government seems to want to oppose to to the Troika, talking openly about relaxing the austerity measures causing “a nervous breakdown” to lenders who wait for the government reshuffle.

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Mr. Schaeuble has arranged a meeting in Berlin with Mr. Stournaras, where he will ask him about everything that happens in Greece.

The reaction of the European Commission should not be examined separately from the reactions of lenders caused by the turn the government attempts to make regarding the economic policy. From the first moment international press had warned about that, then Mr. Schaeuble said to Focus magazine that Greeks have to decide what they want, while the International Monetary Fund play “hide and seek” postponing the evaluation report release (the report will be announced next week probably after the government reshuffle) in which it is said to be included an extension on the solidarity levy for up to two years even though the government expected to abolish it!

In this context, Mr Stournaras continues to play a basic role as far as the developments is concerned, as he had a “secret meeting” on Wednesday in Paris with Mrs Lagarde and Mr Thomsen (the meeting was revealed yesterday by sources of the IMF in Washington).

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