Reuters
December 4, 2010
Greece must try to cut deficits and pursue economic reforms at a faster pace to persuade markets of its ability to dig out of its debt crisis, its central banker said in a newspaper interview published on Sunday.
The overborrowed country avoided default after securing 110 billion euros ($147 billion) of emergency funding from its euro zone peers and the International Monetary Fund in May. Its fiscal derailment sparked a sovereign debt crisis that is still shaking the euro.
"Fiscal adjustment cannot be continued successfully if it is not coupled with a radical revamp of the state and a structural modernization of the economy," Bank of Greece (BOGr.AT) Governor George Provopoulos told Sunday's Kathimerini newspaper.
More
No comments:
Post a Comment