Οutgoing European Commissioner for Financial Affairs, Pierre Moscovici, expressed his confidence that the fiscal gap for 2020 would be reduced and this will open the way for the disbursement of SMP-ANFAs form the European banks profits. The Greek government proposal to allocate these funds for investment is being considered, he said during a visit in Athens..
“We are working together hand-in-hand in order to reduce any fiscal gap, so Greece can present to the Commission on the 15th of October a draft budget plan which can be compliant with the rules,” Moscovici said.
Moscovici has been heavily involved in the progress of the Greek bailout and in the negotiations among the institutions and the Greek government since November 2014.
“We are happy to see that Greece is now progressively after tough times building a success story,” he said.
Referring to the GDP primary surplus figures, the commissioner stressed that it is a matter of credibility for Greece to meet its target.
“The Greek government is committed to a 3.5 percent GDP primary surplus target in 2020. We must find the ways to ensure that this target which has been set by the Eurogroup for 2020 is respected because it is a question of credibility for Greece, continuity of reforms, stability and a serious approach towards public finances,” he explained earlier during a press conference.
But he pointed out that both parts need to work together to try to get progressively to more reasonable fiscal targets.
During his meeting with PM Mitsotakis, Moscovici discussed also about the return of the Securities Market Program (SMP) and the Agreement on Net Financial Assets (ANFA) as budget revenue.
I prefer it when governments are broke and cannot spend because they are incapable of doing anything good with our money besides enslaving and controlling the public. Governments are incapable of dealing with finances in being fiscally sound and cost efficient. People should be rich, government should be poor in order to give people the upper hand with what is done in society.