The European Stability Mechanism celebrates the recovery of Greece

"Some time ago I would not believe that Portugal, Spain Ireland and Cyprus would be success stories, I always refer to these countries as the four success stories, I can now include Greece in this group," said today Klaus [VIDEO] Regling to the Greek newspaper News247.

An end to the turbulent economic cycle of Greece is given

The person in charge of the European Mechanism regretted the suffering that people Greek have in the years of the rescue, but underlined the "positive [VIDEO] results" achieved by the program, such as the growth of the economy or the reduction of unemployment in the past three years [19659006] Klaus Regling pointed out the importance of Greece to continue the reforms carried out and to complete the commitments signed with the creditor institutions.

"The interests of Greece the Greeks and the government are in line with the interests of the ESM: it is in the mutual interest that the reforms continue, that Greece benefits from good growth and job creation. "

When asked about the possibility of withdrawing the pension reform, the intention of the Greek government is that the remaining reforms are sufficient to achieve its financial objectives. Based on the results of 2016 and 2017, the responsible European responded by indicating the obligation to comply with all agreements made after the rescue program.

He added that Prime Minister Alexis Tsipras does not need his advice because he "knows what to do" when Greece regains its financial sovereignty. Klaus Regling further stated that Greece had longer rescue programs than other countries, at least for three reasons: their starting point was more complicated because of the budget deficit and the considerable loss of competitiveness, the vulnerability of the management and the lost time with the decisions of Minister of Finance Yanis Varoufakis in 2015.

The cycle in Greece is closed

On Monday Greece specifies the exit of its third aid program, on a historic date for the country and the area euro that concerns about eight years of rescue. That was the country European that suffered the most from the economic and financial crisis, was the first and last to ask for financial help – and the only "recidivist" – and the conclusion of his third program marks the end of the cycle of rescues to countries of euro started in 2010, which also included Portugal (2011-2014), Ireland, Spain and Cyprus.

The history of the Greek crisis and the eurozone withdrew at least in 2010, when the first extraordinary summit of EU leaders takes place to discuss the "Greek problem", in the light of the revelations that the Greek authorities have real macroeconomic data from the country had clogged and the deficit figures had manipulated public, which at that time was 12.5%, more than double the advertised value.

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