September 5, 2011
Greece's top central banker called on the government to speed up efforts to close the budget gap amid growing concerns elsewhere in Europe that Athens can't pull itself out of its debt spiral.
Bank of Greece Governor George Provopoulos said that the lack of fiscal and other reforms were deepening Greece's recession.
"The developments in the real economy are truly dismal," Mr. Provopoulos said in an interview in the Kathimerini newspaper. "In my assessment, the recession would be shallower if the reforms progressed quicker, if fiscal deficits were reduced more drastically and if competitiveness were improved."
Efforts in these critical areas must now be focussed with greater decisiveness, boldness and effectiveness, he said.
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