Stournaras: “The Worst is Over”



stournarasGreece’s crisis-hit economy is finally beginning to heal, according to the country’s finance minister ahead of a crucial report by the International Monetary Fund which is likely to be more positive than in the past.
Yannis Stournaras said “the worst is over” and the country had “reached the [bottom of the] trough”.
Mr Stournaras’s upbeat tone comes ahead of the IMF’s health check on the Greek economy, which is expected to indicate that the country is turning the corner. The IMF is expected to deliver its annual Article IV Consultation on the country tomorrow, which will give its verdict on whether the economic outlook is improving after six years of deep recession.
The IMF has praised improvements to Greece’s much- maligned tax collection procedures, according to reports in the Greek media this weekend.
Mr Stournaras said attempts to fix the country’s parlous public finances are starting to bear fruit, and could allow it to return to financial markets as early as next year.
In interviews with Greek newspapers this weekend, Mr Stournaras said Greece could be in a position to return to international debt markets by May 2014.
(source: Telegraph)


7 COMMENTS

  1. Can’t believe that yet…The people are still out of work with unemployment rising faster than ever…The country still in crisis and unless changes are implemented in other sectors faster there will be no prosperity and a future…

  2. Only if we wait around for a handful of politicians to fix everything is Greek finished. If the Greek people themselves start behaving responsibility we can save our country.

    a. Protect our borders. Support our government in deporting illegals just like every other country in the world does.

    b. Protect our heritage. Skopians, and any of their foreign apologists, need to be called out for trying to subtlely ethnically delete us (rather than behave like cowards that pretending not to notice foreigners pretending not to notice the Skopians behavior)

    c. Focus on industry through personal responsibility NOT handouts from the state. Laziness and serving drinks to tourists is also not going to save our economy. Technological innovation to improve productivity is what we need not more manual labour strawberry pickers.

  3. Alex, I am sorry to say that you do not understand how things works in real life…Keep your comments to yourself…

  4. Alex has no idea how things work….he is ignorant and an idiot….but everyone knows that already

  5. Great message to offer a glimmer of hope. However all the structural reforms need to be properly followed through so as to prevent a recurrence of this fine mess.

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