(30 Nov 2015) RESTRICTION SUMMARY: AP CLIENTS ONLY
AP TELEVISION - AP CLIENTS ONLY
Athens - 30 November 2015
1. Wide of conference poster reading (English) "Investment and Growth: Building a National Plan."
2. SOUNDBITE (Greek) Euclid Tsakalotos, Greek Finance Minister:
“What are the Greek government demands on debt relief to be discussed after the first review? Its first demand is not to return to solutions that we have tried up to now, because all recent efforts to deal with Greece’s debt did what the Americans call 'kicking the can down the street'.”
3. Cutaway of audience
4. SOUNDBITE (Greek) Euclid Tsakalotos, Greek Finance Minister:
“Someone who has money won’t consume because Grexit (Greece's potential exit from the European single currency) hasn’t left the agenda. Someone who has savings won’t take them back to the bank because Grexit hasn’t left the agenda. Someone who wants to invest, won’t invest because the basic decision as to Greece’s medium-term fate hasn’t been decided. Here there is a dangerous two-way relationship between economic uncertainty and political uncertainty.”
5. Wide of leaving Tsakalotos the conference room.
STORYLINE
Greece hopes its creditors will start talks on debt relief measures quickly to dispel financial uncertainty and help the battered economy, the country's finance minister said Monday.
Speaking at an American-Hellenic Chamber of Commerce conference, Euclid Tsakalotos said recent efforts to deal with Greece's debt load "did what the Americans call kicking the can down the street."
He said that without a clear indication as to how Greece will deal with its oversized debt, uncertainty over Greece's position in Europe's single currency bloc, the eurozone, will cloud the economic outlook and stunt consumer spending and foreign investment.
"Someone who has money won't consume because Grexit hasn't left the agenda, someone who has savings won't take them back to the bank because Grexit hasn't left the agenda" he said, referring to the term used to coin a Greek exit from the euro.
Greece's European creditors have said they will consider some form of debt relief for Greece after they complete a first review of reforms the country must take under its new three-year bailout, an 86 billion euro package agreed on in July with the coalition government of Prime Minister Alexis Tsipras.
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