IMF Managing Director Christine Lagarde on Thursday expressed a hope that still bailout-dependent Greece is now better protected in order to economically grow in the future.
IMF Managing Director Christine Lagarde on Thursday expressed a hope that still bailout-dependent Greece is now better protected in order to economically grow in the future.
Lagarde, in an interview aired on Friday by German broadcaster ARD’s website, added that the reforms process for Greece does not have a clear finish line, whereas much remains to be done.
She referred to certain structural reforms that have taken place in the country, which the Fund hopes will attract investment to recession-battered Greece. Along those lines, she said some growth is already being detected.
She also fielded a question on whether the first Greek bailout in 2010 by the EU and IMF aimed primarily at rescuing major European banks, such as Deutsche Bank or BNP Paribas – a standing criticism of bailout opponents in Greece and abroad.
Lagarde said creditors needed time to find out what the real situation was in Greece, and even how much the country’s debt increased from month to month.
Nevertheless, she admitted that supporting the banking sector was a paramount concern on the part of creditors.