Bank of Greece (BoG) Gov. Yannis Stournaras on Wednesday again called for a compromise between Athens and institutional creditors to overcome differences and finally achieve a second review of the Greek program (third bailout).
By A. Doga
Bank of Greece (BoG) Gov. Yannis Stournaras on Wednesday again called for a compromise between Athens and institutional creditors to overcome differences and finally achieve a second review of the Greek program (third bailout).
Stournaras said the second review is imperative to restore confidence in the Greek government and commence an economic recovery.
Stournaras' latest warning came during his address before members of an association of pharmaceutical companies.
The influential central banker also defended the successive readjustment programs entailed in three bailout memorandums, signed by different Greek governments since 2010 with creditors.
"Despite whatever mistakes and backsliding, and despite the significant economic and social costs from the crisis, the economic readjustment programs that were implemented over the last few years ameliorated, to a large extent, accumulated ills and structural deficiencies - allowing for an improvement in the economy's growth prospects," he said.
Stournaras added that only a few more actions remain pending in the current and last program, in comparison with the numerous changes were implemented since 2010.