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Euclid Tsakalotos

Greek economist and politician

Euclid Tsakalotos (born 1960) is a Greek economist and politician who is currently the Minister of Finance in the Greek government. He is a Syriza member of parliament and a professor of economics at the University of Athens.

QuotesEdit

  • The overall framework of the euro zone is in crisis — not from Syriza or the left, but because of the policies of austerity. Unless Europe moves in a more just and socially democratic direction, then it’s in danger.
  • In any transition period there is a clash of realities. In the 1930s people considered the eventual solutions, at first, to be unrealistic. It’s the same this time round. At first, in the euro crisis there was to be no bailout. Then no buying of government debt. Then no QE. Each of these things have happened. Some things which are now seen as unrealistic will change with the political balance of forces.
    • "Inside Syriza’s economic brain" (20 January 2015)
    • Quoted during an interview, via Skype, between Tsakalotos and a number of other economists. Hosted at the London School of Economics.
  • I cannot hide from you that I am quite nervous. I am not taking on this job at the easiest point in Greek history.
  • It's a difficult deal, a deal for which only time will show if it is economically viable.
  • I made a decision that will burden me for the rest of my life. I don't know if we did the right thing, however I do know that we felt like we had no other choice but do what we did.
  • It is a very tough agreement, with many thorns, and as for the question of who will implement it, that depends on who the Greek people trust to negotiate debt restructuring.
  • It takes Greece forward in the sense that the financial system should be much more stable from now onwards. There is a promise of recapitalization of the banks, without any of the depositors having to bail in or anything to worry about. The process of reversing the negative effects of capital controls will start very quickly and will speedily return the banks to where they were before, hopefully on a far firmer footing. Any deal is only as good as what you make of it. Let's hope the Greek people will be able to make the best of this deal.

External linksEdit

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