Europe expects Greece follow reforms, regardless of election

European policymakers declare expectations from Greece, hoping bailout programme continue regardless of early elections

Photo by: Reuters
Photo by: Reuters

Greek PM Alexis Tspiras is received by the President Prokopis Pavlopoulios in Athens, Greece, August 20, 2015

European politicians and policymakers declare their opinions on the future of the reform programme as Greek PM Alexis Tsipras resigns on Thursday and seeks of early elections in the country.

Germany announced it expects Greece to follow reforms of the agreed bailout programme.

Steffen Seibert, spokesman for German Chancellor Angela Merkel said the programme agreed with Greek government is for three years and “that has not changed.”

"The federal government, like all other European governments, expects the implementation of reforms, the implementation of the agreement in the programme," he added.

Juerg Weissgerber from Finance Ministry also announced if there would be any delays on implementing the reforms, then “that would also mean the next payment would be delayed.”

Greece received the first part of the 86-billion-euro ($97 billion) bailout on Thursday. Tsipras announced his resignation the same day.

Peter Kazimir, the Slovak finance minister wrote on Twitter that he respects Mr Tsipras' decision, but can't help feeling “it's a bit cynical timing to do it immediately after the first disbursement."

He continued "Nevertheless, we have to believe that any Greek government to come will implement what was agreed."

The European Commission announced they respect Tsipras’ decision and they are not worried about about the implementation of the programme. “Regardless of elections, reforms can be implemented,” a spokeswoman said.

French Foreign Ministry told that the French government is “determined to work with the future Greek government on the implementation of the bailout programme.”

Finnish Finance Minister Alexander Stubb also said he doesn’t believe Tsipras’ resignation would affect the execution of the loan programme.

The firm date of the election is not determined yet, but the Greek state news agency ANA announced the it will probably take place on Sept. 20.

The Eurogroup President Jeroen Dijsselbloem urges Greece to hold the elections as early as possible. "I hope that they are as quick as possible so that the least possible amount of time is wasted," he said.

Aleksis Tsipras told in his resignation speech that they did not achieve the agreements they expected before the elections.

"I feel the deep ethical and political responsibility to put to your judgment all I have done, successes and failures," he said.

Christian Lenk, strategist at German DZ Bank, says the resignation is “a double-edged sword.”

He said that in the short term it creates uncertainty and a delay in the reforms; “however, looking at the latest polls we see Syriza very strongly leading among the Greek parties.”  

"We see quite a strong win and the new government should be way more stable than the older one and this should dampen implementation risk in the longer term," he added.

TRTWorld and agencies