Pigasse, head of Lazard Paris, says troika 'all wrong' on Greece
- POSTED: 10 Feb 2015 15:30
- UPDATED: 10 Feb 2015 15:55
Matthieu Pigasse, head of investment bank Lazard in Paris which is advising the Greek government on its debt restructuring, said on Tuesday the troika imposing austerity on Greece was totally mistaken and had driven the country's economy into a wall.
File photo of Greece's flag and the statue of the ancient goddess Athina, patron of Athens in the city's centre. (AFP/Louisa Gouliamaki)
PARIS: Matthieu Pigasse, head of
investment bank Lazard in Paris which is advising the Greek government
on its debt restructuring, said on Tuesday the troika imposing austerity
on Greece was totally mistaken and had driven the country's economy
into a wall.
"I think that the policies conducted by the troika (International Monetary Fund, European Central Bank and European Commission) are mistaken and have driven Greece into a wall and may yet drive Europe into a wall," Pigasse told France Inter radio. "Yes I think the troika had it all wrong."
Pigasse also repeated that a restructuring of Greek debt was inevitable and that the country's total debt load should be reduced by some 100 billion euros (74 billion pounds) to allow it to return to an "acceptable" debt to GDP ratio.
(This story has been corrected to change Europe 1 to France Inter radio)
(Reporting By Nicholas Vinocur; Editing by Andrew Callus)
"I think that the policies conducted by the troika (International Monetary Fund, European Central Bank and European Commission) are mistaken and have driven Greece into a wall and may yet drive Europe into a wall," Pigasse told France Inter radio. "Yes I think the troika had it all wrong."
Pigasse also repeated that a restructuring of Greek debt was inevitable and that the country's total debt load should be reduced by some 100 billion euros (74 billion pounds) to allow it to return to an "acceptable" debt to GDP ratio.
(This story has been corrected to change Europe 1 to France Inter radio)
(Reporting By Nicholas Vinocur; Editing by Andrew Callus)
- Reuters