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Estonian opposition parties against new Greek bailout

The potential third bailout to Greece has been estimated at 82-86 billion euros, with support in the Estonian Parliament split between coalition-opposition lines.

Center Party acting head Kadri Simson said her party was against the previous bailout, where Estonia guaranteed loans to Greece, and they are again against any possible new injection. “It is clear that a currently insolvent Greece will not turn solvent after austerity measures,” she said.

“It currently feels like those loans and the money will be written off, to a smaller or larger extent, the question is how much. We believe Europe should not carry on helping Greece in such a manner,” Free Party Chairman Andres Herkel said.

The deputy head of the Conservative People's Party's faction in Parliament, Henn Põlluaas, said his party has little confidence in the agreement and Estonia should not contribute more on top of the large sums already guaranteed.

Estonia has so far guaranteed around 400 million euros worth of loans to Greece and any new guarantees would need the approval of the Estonian Parliament.

Coalition united

Finance Minister Sven Sester (IRL) said it is yet unclear what any new bailout will look like, adding that Estonia would not have to make any new payments to the European Stability Mechanism.

Reform Party MP Maris Lauri said additional financial aid should only be given under the strictest conditions. “There are certain aspects with which Estonia will not agree with – one is writing off loans, which is a non-starter,” she said, adding that Greece must act before any money is handed over.

Jevgeni Ossinovski, the head of the Social Democrats, said an agreement between the EU and Greece is the only option as the alternative would be Greece leaving the Eurozone. “In my personal opinion, the financial risks it would bring to the EU and Estonia would be great enough to prefer an agreement.”

Editor: J.M. Laats

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