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Monday, June 10, 2013

Greece get ready for new measures. The Greek Finance Minister said "NO new measures will be required IF we achieve our goals"

Ιn his letter sent to parliament, Finance Minister Yannis Stournaras cites recent European Commission report on the evaluation of the Greek program, which estimates that public debt is sustainable and will begin to decline as a percentage of GDP from 2014 onwards.

Stournaras also notes that the Eurogroup has committed to a further reduction in the debt / GDPrate back in November 2012, when Greece achieves a primary surplus in its budget balance.
"This commitment is clearly linked to the achievement of the objectives of the program and does not require new measures. Under the Economic Policy it is important to reduce the public debt in order to strengthen the long-term prospects for economic growth," Stournaras said.
The minister added that the Greek government is making efforts to accelerate the recapitalization of financial institutions, the privatization program and structural changes that will contribute to the restoration of Greece into a sustainable and developmental path.
To conclude that "the first encouraging signs of recovery have already begun to appear in the economy, mainly through economic climate indicators, confidence and competitiveness.

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