Macron critical austerity imposed on the Greeks by creditors – Challenges.fr

PARIS (Reuters) – The issue of “sustainability” of fiscal policy imposed on Greece will arise quickly the Europeans, said French Economy Minister Emmanuel Macron

“We are seeing that beyond the issue of debt restructuring, will arise soon enough the question of the sustainability of fiscal policy imposed on Greece. for the policy of a country can have fiscal austerity as the only horizon, “he said in an interview published Saturday by Le Monde.

Europeans approved a new aid to Greece, which should begin to be paid out next week after the vote by the Hellenic parliament new measures demanded by its creditors. The agreement is accompanied by a commitment to a future reduction of the Greek debt whose terms will be discussed in 2018.

Beyond Greece, Emmanuel Macron believes that the establishment of a public debt restructuring mechanism in the euro area is “a subject on which we have to advance.”

“But we must open this debate that if fiscal and financial solidarity mechanisms were established beforehand, otherwise it will cause further fragmentation of the euro area, “he added.

the Minister notes that Germany, which is requesting such a mechanism,” 8, 5 points of GDP surplus vis-à-vis the rest of the world and does not reallocate the savings in the euro area. “

(Yann Le Guernigou, edited by Jean-Philippe Lefief)