Eurogroup: Early elections in Greece are an «unlikely scenario»

A senior Eurogroup official appeared critical of the attitude that has been kept the past few days by PASOK and DIMAR on the issue of ERT, speaking of political games that have prevailed over the implementation of the stability program in Greece.

He stressed that the Eurogroup supports the Greek Prime Minister, as, when asked to comment on whether it supported the decision to close ERT he spoke of a rhetorical question. "We believe in the continuation of the stability for the Greek government, which is essential for the smooth implementation of the program," the EU official said, estimating however, that the possibility of early elections in Greece is "the most unlikely scenario."

Especially on the issue of ERT, he said it may have surprised all EU Finance ministers, but overstated the fact that it was decided to reopen in a "smoother and more efficient manner."

He also stressed the need to accelerate the structural reforms and decrease the public sector in Greece, which the last 20 years has taken on gigantic proportions. He added that Greece’s fiscal consolidation continues at an excellent pace, but that there are delays on the front of structural reforms.

Regarding the issue of the ongoing restructuring of the tax reform, he said "increasing the effectiveness in the collection of taxes is a better way than increasing the taxes," and added that the June tranche of 3.3 billion euros has been approved.

Troika and Yannis Stournaras will inform the Eurogroup in Luxembourg today, for the implementation of the adjustment program. Stournaras will inform eurozone Finance ministers on the progress of privatizations, structural reforms, and the latest developments on ERT.