Sven Giegold

Eurogroup should give green light for Greece before election season

The Eurogroup meets tomorrow to discuss the ongoing second review of Greece’s economic adjustment programme.

The Greens are calling for the quick resumption of the negotiations and the conclusion of the second review before March 2017, and demanding there be no further pressure on Greece to enact damaging economic reforms.


Commenting ahead of the meeting, Greens/EFA economic and finance spokesperson Sven Giegold said:

“The negotiations need to be urgently restarted to ensure a deal is agreed before election season commences in the Netherlands, France and Germany. Greece is due to make a 7.2 billion euro repayment in July and we must not risk any repetition of the crisis of summer 2015, when Greece came perilously close to defaulting.

The IMF is pushing for further cuts to Greek pensions in order to meet the 2018 surplus target but such a move would be completely irresponsible. Greek pensions faced a comprehensive reform as recently as September 2016. Further cuts would take a heavy toll on the many Greek households which heavily rely on this source of income. Pensions must be protected. Before a new pension reform to improve sustainability a universal basic social safety net has to be created.


Greens/EFA economic and finance spokesperson Ernest Urtasun added:

“The existing income tax threshold of 8,600 euros must not be lowered any further. To do so would heap further pain on individuals and households who are already struggling from the effects of years of harsh austerity. We must stop pretending that more pain is the way to solve Greece’s economic problems.”

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