Stournaras: Greece cannot deal with another crisis with the lenders

3 January 2016
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Bank of Greece governor Yannis Stournaras gave a warning about the risk of Greece failing to reach an agreement with its lenders regarding a set of measures while Prime Minister Alexis Tsipras reiterated his government won’t yield to “unreasonable” demands for more pension cuts.

“The European Union is now much less prepared to deal with another Greek crisis due to refugee crisis, terrorist attacks, Brexit and the disagreements between European Commission and European Central Bank”, Stournaras wrote in an article published in Kathimerini newspaper adding that “A repeat of the 2015 confrontation entails risks that Greece’s economy may not be able to withstand this time”.

Referring to social security reform issue and farmers taxation, he said that these actions are necessary to be implemented in order to achieve the sustainability of the social security system and justice between social groups.

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