Dáil Éireann Debate, Tuesday - 14 July 2015
256. Deputy Mattie McGrath asked the Minister for Finance his position on Greek debt repayment prior to the Greek referendum, which took place on 5 July 2015; his views on the Greek crisis; and if he will make a statement on the matter. [28212/15]
View answerI have stated on a number of occasions in recent months that, while I am opposed to a nominal haircut on Greek public debt, I am in favour of reducing the burden of Greece's debts through, for instance, a lengthening of maturities, longer grace periods, etc. My position on this has not changed.
In Ireland, we have successfully reduced the burden of our public debt by extending maturities, replacing the promissory notes with long-dated government bonds, replacing the more costly IMF debt with market-based debt, and other policies and initiatives.
In relation to the Greek crisis, I welcome the outcome of last weekend's negotiations at which euro area Heads of State and Government have agreed that, subject to the Greek authorities implementing legislation in a number of policy areas in the coming week or so, negotiations on an ESM financial assistance programme for Greece can begin.
