Stournaras: “The bailout review must conclude by the end of 2016”

29 November 2016

The Governor of the Bank of Greece Yannis Stournaras underlined that Greece can achieve a 2% primary budget surplus percent next year, warning that the main risk for the economy would be a failure to conclude a crucial bailout review.

From the stand of the American-Hellenic Chamber of Commerce’s annual conference on the Greek economy Mr. Stournaras noted that “despite the positive projections […] serious risks remain”. “The main risk would be the eventuality of failing to reach agreement on the second bailout review and any delays in implementing the program or backtracking” he further explained.

According to the central banker, lowering the country’s primary surplus targets after 2018 to 2% of economic output, from 3.5%, would help boost growth. Mr. Stournaras also urged the Greek government to stick to reforms and privatizations prescribed in its third international bailout.

During his speech the central banker proposed a six-point “road map” so that Greece may overcome the financial crisis. He also recognized that there were significant differences between the IMF and the rest of Greece’s creditors, adding that the reduction of primary surpluses and debt relief measures – such as extending bond maturities by 20 years – will result in a sustainable debt.

You may be interested

shares17 views

JOKER results: 18/08/2019

Panos - Aug 18, 2019

The winning numbers from the JOKER draw are as follows:

shares39 views

Lotto results: 17/08/2019

Panos - Aug 17, 2019

The winning numbers from the Lotto draw are as follows:

KAS to meet in bid to change rules on Elliniko project
shares53 views
shares53 views

KAS to meet in bid to change rules on Elliniko project

makis - Aug 16, 2019

The Central Archaeological Council (KAS), Greece’s top advisory body on the protection of antiquities, which has quite a few new…

Leave a Comment

Your email address will not be published.