Asmussen: Early for discussion on new haircut

He said that in his opinion Eurogroup’s decision 27 November 2012 answers to the debt reduction issue and to the alleged third support package.

Asmussen stressed that 2015-2016 fiscal gap issue is important “We must see how large it will be and to discuss on how it will be covered within the framework of the Mid-Term Programme.

We need a credible Mid-Term programme in order Greece to return to the markets” he said adding that “I understand the difficult political situation and the slim parliamentary majority but all those succeeded with so much political pain should not be destroyed’.

Referring to the reforms, he noted that «a lot have been done but also a lot remain to be done” and admitted that the unemployment rate in Greece is unacceptable. The German banker pointed that the efforts should focus on restruction changes and on the strengthening of competitiveness in order work positions to be created, particularly for the young and estimated that “the primary surplus target is feasible as well as a low but positive growth rate in 2014.

Asmussen sounded the bell of complacency for the eurozone after the recent positive developments for the exit from the crisis and said that International Monetary Fund’s (IMF) presence is necessary for the troika.

Finally, referring to the banking association he called it “the greatest institutional reform after the introduction of the euro.

Source: AMNA