ECONOMY

Draghi: Greece selling debt at negative rates is a success

draghi-greece-selling-debt-at-negative-rates-is-a-success

Greece's foray into the markets in October, when investors bought its short-term debt at a loss, shows the country's painful efforts to shore up its finances and economy were a success, the outgoing president of the European Central Bank (ECB), Mario Draghi, said on Thursday.

The ECB official praised Greece and its people for the adjustment made when it almost crashed out of the eurozone in 2010-2012 and again in 2015.

“The main efforts have been done by the governments and the Greek citizens who had to pay a high price," he said in his last news conference.

"It is a good time for Greece, and compared to three or four years ago, it's a good time for Europe, for the eurozone countries," he added, noting however that it will also be a risk if these policies aren't continued.