Greece’s exit from the crisis highlights EU’s political success, says Centeno

The end of the Greek crisis shows that the European Union succeeded politically, Eurogroup President Mario Centeno said in an opinion piece for Frankfurter Allgemeine Zeitung titled “Please, no red lines!”

In the article, Centeno said that following eight years of fiscal adjustment, supported by 256 billion euros in loans, Greece could exit the adjustment program this summer.

Among other things, Centeno said that the focus on the banking union and ESM was a correct policy in hindsight, as it can open the way to reforms and gradual building of trust. It does not help when EU member-states put up red lines, as the success of the euro overall dependes on political will by European leaders, and boldness and realism are necessary, he writes.

European UnionMario CentenoGreek Crisis
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