NEWS

Commission mission chief cautions against 'clean exit' talk

TAGS: Business, Conference, Economy

European Commission mission chief Declan Costello on Monday challenged the leftist government's narrative of a "clean exit" from the international bailout in the summer of 2018, adding that sustainable economic recovery will require the implementation of structural reforms over the coming years.

Speaking at the 19th Capital Link Invest in Greece Forum in New York, Costello urged the debt-hit country to overhaul its public administration, reform the tax system, and introduce measures that will make it an attractive destination for foreign investors.

In a recorded address at the same conference, Prime Minister Alexis Tsipras described Greece as a "land of opportunity," adding that its gates were "wide open for highly profitable investments."

"Greece's comeback is here now and is calling on you to be part of it," said Tsipras, adding that the country will exit the bailout program in the summer of 2018.

"In this regard we are extremely focused on the next chapter of Greece, the upcoming era beyond austerity and recession – an era of growth, investments and of course prosperity," he said.

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