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Against early repayment of Greece's loans | TheGreekDeal.com
STEFANOS KASSELAKIS
Against early repayment of Greece's loans
SYRIZA leader Stefanos Kasselakis wrote a post regarding remarks made by Kyriakos Mitsotakis to Bloomberg and the proposal to repay €8 billion in loans early.
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Stefanos Kasselakis, leader of SYRIZA, published a post on Kyriakos Mitsotakis' statements to Bloomberg and the plan for early repayment of €8 billion of loans. 

As the president of SYRIZA says, "Today, in an interview with Bloomberg, Mitsotakis announced the early repayment of the country's eight billion euro loans by 2028. These loans have a floating borrowing rate of three-month Euribor plus 0.5%.

€5 billion will be provided from the country's hard cushion and €3 billion from cash reserves.

Why is it that at a time when the European Central Bank has announced that it will cut lending rates (it has already moved to -0.25%) that Kyriakos Mitsotakis is taking this step, which will certainly damage the country? Why is he stubbornly refusing to invest in health and housing, which have a much higher long-term return than those he is paying off early?"

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