Arriving at a staff-level deal in order to complete the second review of Greece’s programme prior to the December 5 Eurogroup meeting was crucial, European Commissioner for Economic and Financial Affairs Pierre Moscovici said in Athens on Monday. He stressed that if this was achieved talks on Greece’s debt could commence and efforts to resolve the crisis could bear fruits.
“My guess is that we are not so far away from this. That it is possible. That we can make it and that you can have a deal with all parties around the table”, Moscovici underlined while delivering the keynote address to the 27th annual ‘The Greek Economy’ Conference “Greece and the Global Disruptive Environment: A look into the future” organised by the American-Hellenic Chamber of Commerce.
He added the need for the International Monetary Fund (IMF) to remain on the Greek program as a guarantee for stability.
Moscovici emphasised the social welfare elements of the programme and the need to “make sure that even those hardest hit during the crisis can again take part in sustainable and inclusive economic growth”
The Commissioner noted that there were two essential goals: firstly to improve the business environment and competitiveness, to increase investment in Greece and deliver economic growth, and secondly to integrate a social welfare system that is targeted, consistent and efficient.
“This is what is required to support a robust economic recovery and a better, more stable future for the Greek people,” the Commissioner pointed out, reassuring the Greek public that there was finally a “light at the end of the tunnel.”
“A shift is now clearly observable and I am glad to be able to make this observation that wouldn’t have been possible a few years ago when I started sitting on the Eurogroup as France’s finance minister,” he pointed out, citing recent upbeat forecasts for a return to 2.7 pct growth in 2017 and “encouraging signs” from the labour market.