Asked about Greece’s return to investment grade in 2023, the Eurogroup president said he was convinced of the ability of Greek debt to achieve the ratings that the performance of the Greek economy deserves
The trust in the efforts of the Greek government and the Greek people, “which have given such a great improvement to the performance of the economy in recent years”, emphasizes that the newly elected president of the Eurogroup for the second time, Pascal Donahue, will publicly support in the future, in an interview of Capital.gr. and to Maria Psara.
Asked about Greece’s recovery of investment grade in 2023, the head of the Eurogroup said he was convinced of the ability of Greek debt to achieve the ratings that the performance of the Greek economy deserves.
Referring to yesterday’s unanimous decision of the Eurogroup on the additional measures for the debt and in support of the assessment of the Greek economy by the Commission, the 48-year-old Irishman emphasized that it is proof of the work that has been done and the confidence we have in the future. “So the work must go on. But this happens,” he said.
He also emphasized that with the decision taken by the Eurogroup, economic growth will continue in Greece, and he stated that he is convinced that growth can continue and even better days will come.
Asked about the Greek fiscal outlook, given that Greece has one of the highest debts in the EU, the head of the Eurogroup said he was absolutely confident in the Greek economy’s ability to manage its current high debt levels. “And the reason for this is the credibility of its fiscal plans in recent years, the commitment of the Greek government to reduce its borrowing needs, which eventually decreased, while growth strengthened. And I am confident that this level of debt can be manageable,” he added.
Furthermore, the head of the Eurogroup recognized the need to reduce inflation. “But we face a series of demanding claims and needs throughout 2022, especially because the size of the energy shock was so big, that it was not only a shock to income, but also to employment” he noted, adding however that “what the Eurogroup recognized and agreed on Monday in a very, very long statement is that we recognized that on balance, if you look at fiscal policy within the Eurozone in 2022, it was expansionary and we recognized and committed to a neutral fiscal position for the year ahead.”
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