PM Tsipras: Greece's debt relief procedure is on track

Prime Minister Alexis Tsipras on Friday addressing the Greek parliament at the "Hour of the Prime Minister" referred to the first messages proving that the procedure for a debt haircut has started.

PM Tsipras: Greece's debt relief procedure is on track

The prime minister underlined that the beginning of a discussion on a debt haircut will be a major national success and cited a Wall Street Journal report according to which the European Stability Mechanism (ESM) is examining options to ease Greece’s debt burden and reduce its net present value by 52.5 percent.

Earlier in the day, the prime minister noted that "despite the difficulties, the new recapitalisation of the banks was planned in order to safeguard in the best possible way the interests of the Greek state."

Tsipras noted that the banks are completely recapitalised and that from now on they will be able to inspire confidence to the depositors in order to bring their money back to the Greek banks and the real economy.

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