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Greek Former FM: Signing an Extension is the Same as Signing a Memorandum

Greek Former Minister of Finance Gikas Hardouvelis criticized the government’s actions so far stressing that the bills announced to be tabled next week create great losses in the state’s revenue.
Mr. Hardouvelis did the math and according to him, due to revenue loss of the months January-February (1 billion in each month), the government immediately started with a 2 billion euro “hole.”
In addition, another 2 billion from announcing the tax-free at 12,000 euro and another 2.65 billion euro more from ENFIA. Overall, the budget gap currently stands at 6.65 billion euro, according to what the former Minister said.
Furthermore, Mr. Hardouvelis while commenting on the deal for the four-month extension stated that “Signing an extension is the same as signing a memorandum,” adding that “Lenders have Greece talk big for signing memorandum rules.”

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