On Friday, 15 October, the euro has started to cool overheated, and on Monday, October 18, these trends have developed. The market is looking for a pretext to reduce and re-appeared on the horizon Greece. Finance Minister Giorgos Papaconstantinou in an interview with local media said that in 2013. country does not need new loans. "In the year 2013. Greece is a country with better public finances and a stronger economy. We need no new loans, but will need to keep what we achieve by this time," - said the minister. However, he did not rule out the possibility of increasing the term loan repayments. Minister of Finance noted that the possibility of extending the agreement provides to the European Union and the International Monetary Fund.
"If such a decision will be taken, it would be a sign of confidence and a reward for our efforts," - said Papaconstantinou, adding that talk about this is premature. Recall that in May 2010. Greece reached an agreement with the EU and the IMF to grant her financial assistance to 110 billion euros in the form of a three-year loan at preferential rates - well below market. It is literally pulled out of the debt precipice Greece. In return, Athens undertook a radical program to reduce the budget deficit, which up to 2009. reached exorbitant 13,6% of GDP.
"The euro has repeatedly been criticized, but I think the currency will not go away. As a result of the crisis within the system was actually created a new safety mechanism, which the system lacked from the outset. However, this new mechanism for forcing European countries to adopt economic policies that lead to unemployment and stagnation. And since this comes to economic policy in these countries as if from the outside, this creates a serious political problem - people are tuned sharply against the European Union. The consequences of such situations can be very bad, "said the chairman of Soros Fund Management George Soros.
