Παρασκευή, 26-Οκτ-2018 18:10
ESM: Greece has implemented a tremendous amount of reforms, but it still has more to do
The biggest risk for Greece will always be complacency, said in an interview with the bulgarian investor.bg Kalin Anev Janse, ESM Secretary General.
Asked what his assessment is to the post-bailout development of Greece, Kalin Anev Janse, said that "Greece is in a much better state than it was eight years ago. When Greece entered the crisis, there were a lot of issues. The public administration was weak, the economy was in bad shape, they had large fiscal and trade deficits. The country had to do a lot of politically difficult reforms. And what’s most remarkable is the amount of reforms they have pushed through. They now have a fiscal and a current account surplus and they have been able to tap the markets. Investors are starting to trust them again. So we see a lot of positive developments. The fact that Greece managed this so well is a big sign of the resilience of the Greek people. But Greece should never become complacent. It is important that Greece keeps on reforming, also now that the support package has ended".
Whether there are still some weak spots, ESM Secretary General, said that "For me the biggest risk will always be complacency. This could lead to a reversal of the reforms. While it is true that Greece has implemented a tremendous amount of reforms, it still has more to do, like strengthening the public administration, the legal system and further privatisation. Only if Greece continues to be determined about reform implementation, it can convince capital markets that they're doing a good job. So far, they have done that. So that’s why I’m optimistic".