Calmîc: Increasing Debts Leads Moldova to “Greek Scenario”

Moldova should get ready that increasing debts will lead the country to a kind of “Greek scenario”, and we will have to repay loans with our lands. Former Deputy Prime Minister, Minister of Economy Octavian Calmîc said that on the N4 TV channel, Noi.md reports. He mentioned that “Greece had been living in debts for years before they faced harsh loans reimbursement conditions”. According to Calmîc, there are three ways to repay debts: “debts re-scheduling, borrowing from other creditors or alienation of some material assets free of charge”, and Moldova’s last remaining valuable asset are its lands. Assessing the reforms, the former Economy Minister did not rule out that a land clause might openly appear in loan agreements of the Moldovan Government. At the same time, he noted that foreigners already own lands in Moldova through “legal schemes”, but their rights would be formalized. Octavian Calmîc believes that the collapse is still reversible, but the authorities do not have a coherent economic development policy and, most importantly, “entrepreneurs do not realize where we are moving to”.