EUROZONE-GREECE/EUROGROUP-TSAKALOTOS Greek finance minister says bailout deal will take country forward

Record ID: 143886

  • Title: EUROZONE-GREECE/EUROGROUP-TSAKALOTOS Greek finance minister says bailout deal will take country forward
  • Date: 15th August 2015
  • Summary: BRUSSELS, BELGIUM (AUGUST 14, 2015) (REUTERS) TSKALOTOS WALKING AWAY
  • Embargoed: 30th August 2015 13:00
  • Keywords:
  • Location: Belgium
  • Country: Belgium
  • Topics: General
  • Reuters ID: LVA6356V228SKQ004JK3V9Y1ICDV
  • Aspect Ratio: 16:9
  • Story Text: Greek Finance Minister Euclid Tsakalotos said on Friday (August 15) that a bailout deal reached with the country's international creditors will take Greece forward as it will create a more stable financial system without harming bank depositors.
    "This deal is something that we hope will take Greece forward. It takes Greece forward in the sense that the financial system should be much more stable from now on, there is a promise of recapitalisation of the banks without any depositor having any bail-in or anything to worry about and so the process of reversing the negative effects of capital controls will start very quickly and will speedily return the banks to where they were before and hopefully on a far firmer footing," he told reporters.
    The comments came after finance ministers from the eurozone agreed, after six hours of talks, to lend Greece up to 86 billion euros.
    However Tsakalotos said the success of the country's third bailout will depend on how Greeks respond to the challenges of tough reforms.
    "Any deal is only as good as what you make of it so let's hope that the Greek people will be able to make the best of this deal, to make the best of the reforms and the ability to reform, and will mitigate any negative consequences that surely exist within it," he said.
    Tsakalotos also praised his fellow Greeks and the creditors for their efforts, striking a different tone from his predecessor Yanis Varoufakis, who angered other EU leaders with his brash approach.
  • Copyright Holder: REUTERS
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