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Aid for Greece is 'light in tunnel from impending train' — Federation Council speaker

July 13, 2015, 18:44 UTC+3 SIMFEROPOL
According to Valentina Matviyenko, new loans will further worsen the business climate in Greece
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Speaker of Russia’s Federation Council Valentina Matviyenko

Speaker of Russia’s Federation Council Valentina Matviyenko

© ITAR-TASS Archive/Anton Novoderezhkin

SIMFEROPOL, July 13. /TASS/. Speaker of Russia’s Federation Council Valentina Matviyenko has said that the possible allocation of the next tranche for Greece will not solve the country’s economic, social and financial problems.

"This doesn’t solve the problems of the economic, social and financial situation in Greece. By allocating the next tranche the European Union thus supports its economy sending the money to Greece, which returns to their creditor banks. Unfortunately, this is not conducive to economic growth, the overhaul of the Greek economy," the senator said, answering a question from a TASS correspondent.

According to Matviyenko, new loans will further worsen the business climate in Greece. She compared the new tranches with a noose on Greece’s economy. "The time will pass, and the money will run out. And what comes next? Next come new negotiations on a new tranche," the Federation Council speaker noted.

Matviyenko added that the issue of Greek aid had to be addressed by other financial forms and methods. She pointed to the need to support the economy of Greece and give it a boost for economic growth, reduce unemployment and develop the traditional sectors of the Greek economy supporting them through the European Union countries. "Only then will it be possible to say with confidence that Greece will be capable of not only repaying debts but also to fulfill its social obligations to the population," the senator said. In that case, Greece will be able to see "the light in the end of the tunnel", Matviyenko noted. "I believe that now, if this light is visible at all, it’s only the light from the impending train," she said.

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