European Stability Mechanism highlights success story about Greek rescue operations – observer

The Director of the European Stability Mechanism (ESM), Klaus Regling, welcomed on Sunday the restoration of Greece's autonomy, after the last rescue program, indicating that the country will be "a success story".

"Some time ago there would be no reason to believe that Portugal, Spain, Ireland and Cyprus would be success stories, I always refer to these countries as our four success stories, and now I can include Greece in this group" agreed reforms, Klaus Regling told the Greek newspaper News247.

The head of the European Mechanism regretted the suffering the Greeks had endured in the years of salvation, but stressed it

Klaus Regling pointed out the importance of Greece to continue the reforms carried out and to to comply with commitments entered into 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 be continued, that Greece benefits of good growth and creating employment, "he stressed

on the possibility of withdrawing the pension reform – an intention of the Greek government on the grounds that the other approved reforms are sufficient to meet its financial objectives. On the basis of the results of 2016 and 2017, the European official responded by pointing out the obligation to all before h end the agreements reached at the end of 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 also explained that Greece has been following rescue programs for more than three years than other countries. reasons: the starting point was more complicated because of the budget deficit and the considerable loss of competitiveness, the vulnerability of the administration and the lost time with the decisions of Minister of Finance Yanis Varoufakis in 2015.

On Monday, Greece completes its third aid program on a historical date for the country and the euro zone, which turns the page to eight years of redemption, leaving the euro to get a member in ransom.

This was the European country most affected by the economic and financial crisis, the first and last to seek financial aid – and the only "recidivist" – and the completion of his third (19659002) The history of the Greek The crisis and the euro zone is at least a step back, and it is also a sign of the end of the cycle of repayments to the euro countries that started in 2010, which also included Portugal (2011-2014), Ireland, Spain and Cyprus. 2010, when the first extraordinary summit of EU leaders was held to discuss the "Greek problem" in the light of revelations that the Greek authorities had hidden the real macroeconomic data of the country and manipulated the government deficit figures, was ultimately 12.5%, more than double the announced value.

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