19 September 2018

I support the idea of Greece's "clean exit"

02 April 18 |
Sir Suma Chakrabati


Pepper Hellas

Consultant - GREECE

Solum Property Solutions

Consultant - GREECE


"I support the idea of the 'clean exit' from the economic programme because Greece is recovering, is reformed and has strong advantages" stated European Bank of Restructuring and Development (EBRD) president Sir Suma Chakrabati to Athens Macedonian News Agency.


EBRD is the European bank actively involved in the last 2.5 years in Greece’s development effort with investments in infrastructures, it has funded the recapitalisation of the four systemic banks and the upgrading of the regional airports while its interest in now focused on the funding of SMEs in combination with the youth employment.

Chakrabarti, in his interview with ANA referred to the problems, mostly the delays in justice and licencing.

He also underlined that the growth is still at low levels "We need faster growth" he noted.

On the public debt, he said that there is a problem and there must be a discussion with the lenders if an adjustment is necessary. He said that the bigger problem in Europe is the "increase of inequalities" at countries as well as at domestic level.

He underlined that EBRD is drafting financing products for those that are excluded from the markets.

In this 'trip' as he called it, that will take for over 10 years, the European Commission must actively participate by offering funds and mostly opportunities in order the climate that leads to the increase of the extreme-right forces to be reversed.

Finally, on the brain drain phenomenon in Greece, he claimed it can be reversed as it happened in Ireland, Portugal and India. It needs however, something more than economic growth, but it is possible, he concluded.



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