Saturday 16 December 2017

Brian Hayes says outline of Greek deal is clear

Brian Hayes, MEP
Brian Hayes, MEP Newsdesk Newsdesk

A SENIOR member of Fine Gael has said the use of EU structural funds, funding from the ECB and debt restructuring could be a part of a new bailout deal for Greece if it makes clear it wants to remain in the euro zone.

Brian Hayes, a member of the European Parliament and a former government minister, said it was "critical" that Greece apply for a third bailout.

"The outlines of a deal are relatively clear. Reasonable financial assistance to allow the Greek banking system and economy to continue functioning," Hayes said in a statement issued by Fine Gael.

"The resources of the EU structural and cohesion funds and funding from the ECB will be needed to support investment and help the economy return to growth ... Debt restructuring and reprofiling will be a necessary part of negotiations."

He said the Greek government would have to implement reforms and become more cooperative in negotiations.

"If negotiations are to proceed in an atmosphere of compromise it is also necessary that Greek political leaders ditch their aggressive, provocative language," he said.


Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Promoted Links

Also in Business