Hatzidakis: Fiscal stability should not undermine economic growth in EU

Greece will remain on the road to fiscal stability and “will implement, with determination, the reforms needed to be completed,” Economy and Finance Minister Kostis Hatzidakis said on Friday.

Speaking in Brussels where he was attending a two-day meeting of the Eurogroup and Ecofin, Hatzidakis presented the priorities of the government’s economic policy, underlining that Greece –based on the progress made in the last four years – will remain on the road to fiscal stability focusing on combating tax-evasion and exploitation of public assets.

“After the result of the general elections we have a historic window of opportunity which we are determined to take advantage of, to the benefit of Greek citizens,” he said.

He pledged that Greece will actively participate in discussions currently underway to revise economic governance regulations, seeking to achieve a balanced agreement which will ensure the reduction of fiscal deficits and public debt without undermining economic growth.

The minister said: “Greece is no longer the black sheep of Europe and everyone talks positively about the country’s progress in the last four years. I presented the priorities of our economic policy and made clear our commitment to continue reforms with the aim to have a more dynamic, productive and exports-based Greek economy, which will create the preconditions that no one is left behind.

“Regarding the revision of fiscal rules, our position is that ensuring fiscal stability is absolutely necessary – but not to the extent that it undermines economic growth in Europe. At the same time, there must be a necessary flexibility to deal with external crises, like the ones faced in recent years.” [AMNA]