21 July 2018

Greece's growth sustainability depends on extra reforms

22 December 17 | Pierre Moscovici
Pierre Moscovici



Public entity - GREECE

IBI Group

Consultant - GREECE


Consultant - GREECE

Solum Property Solutions

Consultant - GREECE


Antulio Richetta

Director IBI Group
European Commissioner for Financial Affairs Pierre Moscovici expressed his optimism over the course of the Greek economy in an interview with "Ta Nea" newspaper on Friday.


He referred to "the turning of a page, after a long period of recession which had a heavy price for Greek society," and said that the economy is recovering.

Moscovici noted that "all institutions involved in the programme expect that in 2018 Greece will exceed its targets for the primary surplus".

Greece's target should be to legislate all the prior actions needed in good time, before the Eurogroup meeting scheduled for January 22, Moscovici said.

He noted this will allow the start of the preparatory works for the next stages of the procedure, namely the discussion on the debt and the post-memorandum era, adding that "all these should be concluded by June".

Referring to the Greek banking sector, he estimated that it is "sufficiently capitalized".

The recovery that is now starting will become viable and sustainable only if it is supported by the steady implementation, and additional, if necessary, agreed reforms after the end of the programme, claimed Moscovici.

Greece must map and successfully implement its own development strategy and this is one of the main issues that will be on the table in the next months," concluded Moscovici.


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