9 Mar 2015
Time is running short for Greece – ECB’s Coeure
FXStreet (Mumbai) - Speaking for Cypriot daily on Sunday, European Central Bank (ECB) Executive Board member Benoit Coeure said the ECB and IMF are considering a list of reforms in order to allow for a speedy and successful conclusion of the bailout review for Greece, but time is running short.
Key Quotes:
“(The EC, ECB and IMF) considered the list of reforms presented by the Greek government as a valid starting point for a successful completion of the review under the current arrangement, and the Euro group agreed to extend it by four months. In this context, the authorities have committed to fully cooperate with the three institutions, in order to allow for a speedy and successful conclusion of the review. We are looking forward to working with the Greek authorities. Time is running short,"
"The Euro group has outlined a clear sequence. When the current review is concluded successfully, and if the Greek authorities so wish, a follow-up arrangement will be discussed with the Euro group,"
"But it is first and foremost the responsibility of the Greek government to create growth and regain financial independence. This requires in my view a clear resolve to boost economic reforms, a prudent fiscal path and an unequivocal confirmation that Greece will honour its international commitments. Doubts about the country’s creditworthiness will then recede and foreign investors will return to Greece."
Key Quotes:
“(The EC, ECB and IMF) considered the list of reforms presented by the Greek government as a valid starting point for a successful completion of the review under the current arrangement, and the Euro group agreed to extend it by four months. In this context, the authorities have committed to fully cooperate with the three institutions, in order to allow for a speedy and successful conclusion of the review. We are looking forward to working with the Greek authorities. Time is running short,"
"The Euro group has outlined a clear sequence. When the current review is concluded successfully, and if the Greek authorities so wish, a follow-up arrangement will be discussed with the Euro group,"
"But it is first and foremost the responsibility of the Greek government to create growth and regain financial independence. This requires in my view a clear resolve to boost economic reforms, a prudent fiscal path and an unequivocal confirmation that Greece will honour its international commitments. Doubts about the country’s creditworthiness will then recede and foreign investors will return to Greece."