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> Economy

Dijsselbloem argues that asking Greece for a 3.5% surplus is “a huge thing”

Asks Europe to be realistic about fiscal targets set after 2018

Newsroom November 29 03:45

Eurogroup president Jeroen Dijsselbloem called for European lenders to be “realistic” about the fiscal targets it sets for Greece after 2018, when the debt-ridden country’s financial aid program expires.
Addressing the economic affairs committee of the European Parliament, Jeroen Dijsselbloem said, “We need to be realistic,” pointing out that the International Monetary Fund itself had said “Running a primary surplus of 3.5% for a very long time is a huge thing to ask.”
Dijsselbloem’s words come only days before the Eurogroup meeting in Brussels on December 5, when European Finance Ministers are scheduled to determine for how long Greece should sustain a primary budget surplus of 3.5% after 2018 when its current financial aid program ends.

The amount excludes debt-servicing costs.

 

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