Valdis Dombrovskis: Greece has returned to growth

“We have a major achievement. Greece is exiting the programme. The European Commission welcomes the agreement reached on June 21,” said European Commission Vice President Valdis Dombrovskis in response to a question put by Europarliament Vice President Dimitris Papadimoulis on Friday.

In his reply, Dombrovskis emphasised three important points for Greece.

a) that Greece must maintain its current course in the post-programme period and carry out reforms that will strenghten the economy and boost the confidence of the markets, because as he said, Greece will now be relying on the markets for funding.

b) the measures for the debt and the debt relief package, which Dombrovskis said was very important for Greece. He noted that the extension of the repayment period and the suspension of interest payments will reduce its cost and ensure a smoother return for Greece to the markets.

c) lastly, the 15-billion-euro cash buffer for Greece, which Dombrovskis noted was a very important step that would again help ensure a gradual and smooth transition to borrowing from the markets.

He also said that the Greek economy has now returned to growth and ensured fiscal stability. Greece must now build upon this, the Commissioner added, noting that he expected pleasant surprises from the Greek economy from now on.

Source ANA-MPA
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