“We removed 100 bn. Euros from the burden of the next generations”

“We removed 100 bn. Euros from the burden of the next generations”. With this characteristic phrase, Finance Minister and Deputy PM Evangelos Venizelos attributed the benefit to Greece from the compromise reached in Brussels in the morning after the Eurogroup meeting.

Mr. Venizelos stated that the agreement averted a disaster which would have had consequences in the order of 1 trillion euros worldwide, adding that Greece is now equipped with the necessary safeguards to move forward in the future and emphasized that there is now a shield for deposits, appealing to citizens who  have transferred money abroad to bring them back into the country.

In support of his own words, he stressed that “Greece will remain in the euro, no matter what”.

He made it clear that the bills for the supplementary budget and the measures to accompany it as well as the PSI arrangements, will be tabled in the House tonight, marked as urgent. “Everything must be voted on by the 29th of February”, he emphatically stated while inviting the world of politics and society to support the banking system.

Especially mentioning the escrow, the Finance Minister explained that the original request was that the account would include money for the next nine months and would be held abroad. As for the special account that was finally decided on, he stated that the Bank of Greece will hold it, while it pertains to a “national legislation”, which will later be incorporated in the Constitution to “protect ourselves”.

He clarified that in addition to loans, the account will receive government revenue from taxes, privatization etc.