Provopoulos stresses need for a prompt bailout review completion

1 March 2016
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The former governor of the Bank of Greece Giorgos Provopoulos underlined the importance of completing the bailout program review as soon as possible in order to avoid any national adventures.

Mr. Provopoulos, who delivered a speech at an event on national reconstruction, spoke of the ‘visible fatigue’ of Greek society and political personnel, while warning that many dangers loom from the refugee crisis and the divisions emerging within Europe.

According to the former central banker, the bailout review must conclude as soon as possible, so that there is a broader, reorientation of the economic policy that will create a friendlier environment open to investments and business ventures.

Without any growth, there can be no noteworthy investments, he further elaborated and argued that investments need to double, in order for Greece to return to growth. He also warned that any deterioration of financial indexes may lead to new taxes and income cuts, further perpetuating the recession.

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