Hatzidakis: Tackling twin deficits requires serious fiscal approach

“Fiscal seriousness” and a change in the production model are needed to tackle the twin deficits – namely, the fiscal deficit and the current accounts deficit – National Economy and Finance Minister Kostis Hatzidakis said on Tuesday evening while addressing a Hellenic-British Chamber event.

The minister described the government’s “holistic efforts,” which are aimed at “tightly shutting these two back doors that allowed the crisis to cause the Greeks such hardship in the previous decade.”

This effort, he said, was being made on two main fronts: fiscal seriousness and a change in the production model, having “a policy of common sense that adopts international best practices and turns Greece into a country that is friendly for investments” as a common denominator.