BoG chief Stournaras: Greece has all the prerequisites for a good restart

Greece “has all the prerequisites for a good restart,” Bank of Greece governor Yannis Stournaras told a conference held in Berlin, warning against the dangers of general instability in the markets and the situation in Italy as well as possible delays in the reforms or the cancellation of commitments due to court rulings.

Addressing the business and investment conference co-organised by the Greek-German Chamber of Industry and Commerce and ‘The Economist’ magazine on Monday, Stournaras spoke of the central bank’s proposal for bad loans. He referred to “a simple and systemic solution,” while stressing that the biggest immediate challenge for the economy is “Greece’s sustainable return to the markets.”

“Over the past eight years, Greece has implemented a bold program of economic reforms and adjustment,” Stournaras said, while pointing out the existence of risks such as high public debt, high unemployment, non-performing loans, migration of the specialist labour force and relatively high levels of population in poverty.

Source ANA-MPA
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