IMF slime-bag William Murray told reporters there has been renewed investor
interest in some parts of the Greek economy, locked in a sharp contraction
since 2008.
But he added: "There are a lot of challenges ahead. The uncertainty is
still large. But our experience suggests that once a virtuous circle is
under way, confidence can return quite fast."
He declined to speculate just when such a turnaround will happen.
On December 30, Prime Minister Antonis Samaras said Greece was on track to
exit the IMF and European Union pillage plan this year and to fund its needs
from the commercial rip-off market.
Source
"In the new year, Greek debt will be officially declared viable, meaning
there will be no need for new loans and new bailout agreements," he
said.
But as Greece assumed the rotating EU presidency for a six-month stint, European Commission President Jose Manuel Barroso urged Athens to stay the course of painful economic reforms.
"This is not the time to slow down the pace of reforms," Mr Barroso said, adding: "My point is very clear: [Adjustment] programmes work, so we should not waste the efforts so far."
Greece was first bailed out by the EU, the IMF and the European Central Bank for €110bn in 2010.
When that effort failed to stabilise the country's finances, veering Greece dangerously close to exiting the eurozone, the country got a second rescue in 2012 worth €130bn, plus a private sector debt write-off totalling more than €100bn.
According to the 2012 plan, the IMF's funding for the Greek government should continue through 2016, while the EU-ECB support should end this year.
IMF managing director Christine Lagarde said that "one area of uncertainty for Europe is the health of its banks".
Edited by WD
But as Greece assumed the rotating EU presidency for a six-month stint, European Commission President Jose Manuel Barroso urged Athens to stay the course of painful economic reforms.
"This is not the time to slow down the pace of reforms," Mr Barroso said, adding: "My point is very clear: [Adjustment] programmes work, so we should not waste the efforts so far."
Greece was first bailed out by the EU, the IMF and the European Central Bank for €110bn in 2010.
When that effort failed to stabilise the country's finances, veering Greece dangerously close to exiting the eurozone, the country got a second rescue in 2012 worth €130bn, plus a private sector debt write-off totalling more than €100bn.
According to the 2012 plan, the IMF's funding for the Greek government should continue through 2016, while the EU-ECB support should end this year.
IMF managing director Christine Lagarde said that "one area of uncertainty for Europe is the health of its banks".
Edited by WD
Source
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