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January 21, 2015

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We recognize binding loan agreement & reject the bailout - says SYRIZA

Greece's Minister of Finance Gikas Hardouvelis and SYRIZA candidate Yannis Dragasakis took part in a conference in Athens on Tuesday night that was organized by the Economist, and revealed some startling information. The SYRIZA MP apparently separated the loan agreement from the bailout, arguing that SYRIZA accepts the former and intends to renegotiate it, while rejecting the bailout, which it is going to replace with its own program.

During the discussion, Dragasakis revealed that should his party win the January 25th general election it is not going to strive to complete the outstanding troika review. He explained that he would discuss the relevant mattes with each of the troika’s members, but not the troika as a whole.

He also pointed out that SYRIZA is not planning on overturning capitalism, but work towards saving society. He also maintained that the Greek people’s will must be respected, otherwise there is a problem with democracy.

A report in to Vima said that he the SYRIZA candidate also responded to rumors that concern talks with Berlin, and asserted that his party is not involved in some sort of “secret diplomacy” with Germany.

He noted that SYRIZA will ask for time to present its program, which he said, is going to have four points. (This obviously means, that they do not have a plan, and will probably devise a plan as they go.)

On his part, Gikas Hardouvelis warned that there will not be a lot of time available after the upcoming elections and that due to the strict deadlines in place, many decisions are going to have to be made in a short time. He said that should there be delays the EU and IMF’s 7.2 billion euros may be at risk, along with the 11.4 billion from the EFSF, while the ECB may cut off liquidity in March.

The Greek Minister then claimed that the Greek economy would suffer from political uncertainty and he cited the recent application for ELA support by the Greek systemic banks as a prelude of things to come. He also stressed that the State may be late or suspend payments, which in turn would cause further funding problems.


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