Parliament calls on Greece to use bailout extension to rebuild trust with creditors

Finance Minister Edward Scicluna says that Greek government must use its four-month bailout extension to allay uncertainty amongst Greeks about their country's economic and financial future

Finance Minister Edward Scicluna at the Eurogroup meeting
Finance Minister Edward Scicluna at the Eurogroup meeting

Both sides of the House have called on the Greek government to rebuild its trust with its international creditors after Eurozone finance ministers had agreed to extend its bailout extension by four months.

“The government believes that the Greek government should use these four months wisely to rebuild its trusts with all of its creditors,” Finance Minister Edward said in a parliamentary statement. “It should also use them to allay uncertainty within Greece about the country’s economic and financial future, thereby stabilizing the country and breathing fresh air to the Greek economy.  We also encourage Greece to create new spaces in which discussions on the country’s challenges can be held.”

Shadow finance minister Mario de Marco said that the Opposition will fully support the government’s insistence that Greece must repay its debts, reminding the House that Malta is one of Greece’s creditors.

As part of the extension deal, Greece were obliged to present a summary of its planned economic reforms by 25 February. The main points of the summary include creating a fairer tax system, combatting tax evasion and fuel and tobacco smuggling, tackling corruption, implementing labour reforms on collective contracts and bargaining agreements, and granting housing guarantees and free medical care for the country’s uninsured unemployed.

Greece has also agreed to present a more detailed reform plan by the end of April.