ECONOMY

Regling expresses optimism on Greek economy prospects

regling-expresses-optimism-on-greek-economy-prospects

The head of the European Stability Mechanism (ESM), Klaus Regling, expressed optimism on the prospects of the Greek economy in an interview on Sunday.

Asked about the consequences of the pandemic on the European Union and the increase of the debt, especially for Greece, he said that there are weaknesses as a result of the high debt but there are also positive factors that will help Greece to rise to the challenges.

Regling clarified “that there is no comparison with last decade’s economic crisis where serious macroeconomic imbalances should be corrected. Today, we are not facing this problem, there were no macroeconomic imbalances in 2019 in Greece. On the contrary, the financial situation was very strong. It was the third consecutive year with budgetary surplus,” he explained.