The Greek Socialist PM Candidate Has Virtually Ruled Out More Austerity

Evangelos VenizelosPASOK PM candidate Evangelos Venizelos

Photo: AP

ATHENS, Greece (AP) — Greece’s socialist party leader Evangelos Venizelos has promised no new taxes, or across-the-board wage and pension cuts, if his party participates in a coalition government after the May 6 early election.Speaking in front of a select audience of party officials Saturday, the former finance minister said he expected no single party to be able to form a government after the vote.

Venizelos said if his party, PASOK, were to enter a coalition a priority would be to slowly wean Greece off the restrictions of two emergency loan agreements and into self-sustaining growth by 2015.

He said that the slashing of more than half of Greece’s privately held debt will help inject liquidity into the market and a stable tax regime over the next 10 years will boost growth.

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