Deputy Prime Minister and recently appointed Economy Minister Yannis Dragasakis on Wednesday reiterated his categorical opposition to the prospect of a precautionary credit line for Greece after the third bailout ends next August.
Dragasakis, a LSE-educated economist and veteran leftist politician in the country, said such a prospect would equal a “new memorandum”. Instead, he merely echoed the leftist-rightist coalition government’s preference for a “cash buffer” in the period when Greece will have to refinance its debt via sovereign market borrowing.
Dragasakis said 4.5 billion euros have already been collected for a future “cash buffer”.
