The Dutch ambassador to Greece on Wednesday told a gathering in Athens that "more progress is needed before Eurogroup ministers will decide to disburse ECB profits on Greek bonds."
The Dutch ambassador to Greece on Wednesday told a gathering in Athens that "more progress is needed before Eurogroup ministers will decide to disburse ECB profits on Greek bonds."
The ambassador of the Netherlands to Greece, Caspar Veldkamp, made the statement during an address at a Hellenic-Dutch Association of Commerce and Industry (HeDA) event. His reference to "profits" from bonds are the so-called SMP and ANFA profits.
Veldkamp added:
"I believe further reforms are necessary and possible. Especially in a country that raises its minimum wage by a whopping 10,9 percent, increasing competitiveness by cutting red tape, simplifying bureaucratic procedures, etcetera, is important. If you cannot compete on salary level, you have to increase competitiveness on other aspects. I hope that this year, Greece will improve its score on the various competitiveness rankings, instead of falling down several points again. I believe this should be a priority, for this and for any next government.
"Rather than looking at the Eurogroup, I think it is more productive at this moment to look at what Greece can do itself. Within the present targets, much can be done to find the optimal policy mix of government taxes and expenditures, reflecting what Greek voters want."