Friday March 6, 2015 Search
Weather | Athens
20o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Stournaras '100pct certain' 2013 will be last year of Greek recession

Finance Minister Yannis Stournaras says he is 100 percent certain that 2013 will be Greece’s last year of recession.

The country’s economic downturn started in 2008 but speaking to the BBC’s Mark Lowen in Athens, Stournaras said Greeks had reason to be optimistic.

"I feel sure, 100 percent certain that this will be the last year of Greece's recession," he said. “Towards the last quarter of 2013, we are going to have recovery."

The probability of Greece leaving the euro - Grexit - is now very small," Stournaras added.

"We have managed to turn the economy around. From the markets, there's much more optimism. Deposits are coming back to banks, the government is paying its arrears to the private sector and there is a change in how Europe sees us. So all the leading indicators are positive. We are two-thirds of the way towards our target. So people can have hope."

Stournaras repeated previous comments that Greece was open to the idea of another debt reduction but remained tight-lipped about how this should happen.

"I would welcome a reduction of the level of debt - but there are many ways to achieve that," he said. "But it should happen in a way that minimises the loss to other parties."

Stournaras was also candid about the mistakes made by Greece and its lenders over the country’s fiscal adjustment program.

"Greece was forced to cut too far, too fast," he said. "In hindsight, we should have placed more emphasis on structural reform and privatisations at the start. But we can't go back. There's no point crying over spilt milk. The eurozone was not prepared for the crisis."

Stournaras also responded to a question about a possible British exit from the European Union by insisting that there should no scope for the country to renegotiate the terms of its EU membership.

"It would be a grave mistake for Britain to leave the EU,” he said. "Britain belongs to Europe politically, financially and from a cultural point of view."

ekathimerini.com , Tuesday Jan 29, 2013 (12:35)  
Cash-strapped Greece repays first part of IMF loan due in March
Greece must repay loans in full, bailout fund head says
Jobless rate starts picking up again
Election lifted consumers’ mood
Greek reforms list cites tackling evasion, fiscal savings, source says
Greece has promised to fight tax evasion and generate fiscal savings as part of an updated set of reforms sent to euro zone partners ahead of a meeting of finance ministers from the bloc on ...
Greece sends new letter with details on reforms, sources in Brussels say
Greek Finance Minister Yanis Varoufakis on Friday sent a new letter to the Eurogroup essentially fleshing out the six reform proposals that Greece is expected to present at Monday's meeting ...
Inside News
BASKETBALL
Barcelona beats Panathinaikos once more
For the fourth time this season Panathinaikos failed to beat Barcelona, this time in Athens, losing 81-77 on Thursday and denting its chances for a privileged top-two finish in its Euroleagu...
SOCCER
Iraklis, Apollon and Xanthi in Cup semis
The prospect of a second-division team reaching the Greek Cup final has grown considerably after two out of the three teams that made the semifinals this week come from the Football League. ...
Inside Sports
COMMENTARY
PISA, Schengen, mediocrity and isolation
Greece’s most serious problem is not the economic and political crisis, though it did contribute greatly to it. At the root of our evil lies our great isolation, not only from our partners i...
COMMENTARY
Balancing the Greek budget: The ancient Athenian perspective
Is democracy good for balancing a budget? For many today the answer is a resonating no. This answer is easy to understand. In the birthplace of democracy, Greece, the state’s budget is a mes...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek reforms list cites tackling evasion, fiscal savings, source says
2. Greece sends new letter with details on reforms, sources in Brussels say
3. Cash-strapped Greece repays first part of IMF loan due in March
4. Greek and German bruisers limber up for ´rumble in the eurozone´
5. Greece must repay loans in full, bailout fund head says
6. BoG chief Stournaras briefs PM Tsipras on ECB´s decisions on Greece [Update]
more news
Today
This Week
1. BoG chief Stournaras briefs PM Tsipras on ECB's decisions on Greece [Update]
2. Greece must repay loans in full, bailout fund head says
3. Greek and German bruisers limber up for 'rumble in the eurozone'
4. Cash-strapped Greece repays first part of IMF loan due in March
5. Greece sends new letter with details on reforms, sources in Brussels say
6. Greek reforms list cites tackling evasion, fiscal savings, source says
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. The Greek tax drama
3. SYRIZA feeling the pain
4. Varoufakis to make six reform proposals at Monday's Eurogroup
5. The unlikely winners of Greece's surrender on euro
6. Tsipras reversal draws Greek sympathy as party rumblings rise
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.