By Chrysostomos Tsoufis
One of the most crucial appointments that will judge her future fiscal course of the country will have today in Brussels the Christos Staikouras with his counterparts. And this is because the discussion about her will start preservation or not in 2023 of the famous escape clause.
The Greek Ministry of Finance knows that the European Commission’s suggestion will be there should be no deficit and debt limits and time as the Eurozone economy is affected by …a two-headed monster of the energy crisis and inflation which threatens to destroy the growth prospects. The Greek Ministry of Education, however, knows that they will exist restrictions for countries with high debt such as Greece as the countries of the North push for some kind of fiscal … regularity. The moods of Brussels were … described by Monetary Affairs Commissioner Paolo Gentiloni who stressed last Monday in the presentation of the Commission’s spring estimates that Greece and the heavily indebted countries in general should be especially careful on the part of their expenditure.
Maintaining the escape clause increases the country’s fiscal flexibility for next year but The € 43 billion given for pandemic support will not be given again. And not just because there will be a spending cut with leaks from foreign media saying that the increase in spending can not exceed the growth of the country’s GDP.
Even the escape clause was offered to the … Greek dish free from restrictions, in government they would be afraid to bring gifts from Brussels and would … spend responsibly. This is because the markets are lurking and they are ready to punish the waste. The lending rates of Europe and Greece as a heavily indebted country are already increasing even more. In addition conditions have changed in relation to the two years 2020-2021 and the markets are much more “irritating”, note the officials of the Ministry of Finance. This is because there will be no bond purchase program from the ECB and the government is not going to jeopardize the path to the holy grail, which is nothing more than the investment stage.
At the moment, however, there is no room for additional support measures. The financial staff counts the receipts day by day and expects to have a complete picture of the tourist reservations so that they may proceed to some targeted interventions from July if the … fund allows it.
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