Greek Finance Minister Euclid Tsakalotos said that talks with creditors on Friday were in a good climate and there was convergence on some issues.
Tsakalotos and Economy Minister Giorgos Stathakis met today with the representatives of Greece’s creditors, Declan Costello from the European Commission, Rasmus Rueffer from the European Central Bank (ECB), Nicola Giammarioli from the European Stability Mechanism (ESM) and Delia Velculescu from the International Monetary Fund (IMF). The meeting lasted for six hours.
According to the Finance Minister who talked to the press after the meeting, certain “hot” issues were discussed today for the first time.
Namely, the Greek side discussed the difficulty to reach the primary surplus target of 3.5% of GDP in 2018, as it looks like the current year will end with a primary deficit due to the blow capital controls delivered to the economy.
The bank recapitalization issue was also discussed, given the banks shutdown. Creditors will also meet with Bank of Greece (BoG) governor Yiannis Sturnaras to discuss the issue.
The Greek side presented the plan for the new Privatization Fund. The aim of the Fund is to reduce state debt and kickstart economic growth.
“As you can understand, there was convergence in some issues, and less convergence in others,” Tsakalotos said. “Talks took place in a very good climate and they will continue,” he added.
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