Tsakalotos: Greece to submit its growth plan to partners in March 2016

Greece will submit to its partners in March 2016 its own growth plan, according to Finance Minister Euclid Tsakalotos’ statements to the parliament’s committees where is currently discussed the draft law of the new agreement.

Regarding the debt restructuring, he said that is linked with the result of the first evaluation of the economic programme expected to take place in October.
Tsakalotos explained that a package of measures will be announced in October that will be applied from 2017.
On the banks’ recapitalisation, he said that it is linked with the bad loans. There were huge arguments with the institutions on this matter which will be discussed again in October, he clarified adding that there are proposals for band bank, for the creation of asset management bank and other details that remain to be settled, for example who will participate in the recapitalisation.
On other tax measures, Tsakalotos clarified that the increases will be held gradually. “The institutions had requested to not be able to legislate until March 2016, he said, “however, this problem was sorted out and draft laws are being prepared for example a draft law that refers to labour issues and will be tabled in autumn.
Referring to the deregulation of the so-called closed professions as pharmacies, bakeries and other professions, it will depend on how the Greek economy and the Greek politics will react.