Off the wire
• DPRK denounces UN sanctions resolution  • Price hike eats into Taiwanese's real earnings  • Xinhua world news summary at 1545 GMT, Dec. 22  • Israel urges U.S. to veto UN resolution on Jewish settlements  • Xi expresses condolences over fireworks market explosion in Mexico  • U.S. stocks open lower amid economic data  • 663 villages in Beijing replace coal with cleaner energy in 2016  • EU, Greece launch fund to aid Greek businesses  • Roundup: Japan celebrates U.S. return of military training land in Okinawa amid protests for resumption of Osprey flights  • S. African police vow intensified efforts against crimes in festive season  
You are here: 　 Home

Greece's central banker calls for prompt completion of bailout review

Xinhua, December 22, 2016 Adjust font size:

The Governor of the Greece's central Bank Yannis Stournaras on Thursday called for the prompt conclusion of the ongoing second review of the third Greek bailout to ensure Athens will not lose its positive momentum.

​At a forum in Athens for the launch of a new equity fund aimed to support Greek enterprises on the path to economic recovery, Stournaras warned further delay in the conclusion of the bailout review will undermine the steps to recovery.

"The swift conclusion of the second review is a fundamental prerequisite in order to maintain the positive economic indexes and the improvement of the climate," Stournaras stressed.

Athens continues negotiations with European creditors over the terms of the conclusion of the review with both sides expressing hope for a positive outcome within the next few weeks.

Last week, European creditors suspended the implementation of the short-term debt relief measures the two sides had sealed on December 5 in response to Greek Prime Minister Alexis Tsipras' surprise decision a few days later to give a Christmas bonus to low-income pensioners.

The European Investment Bank (EIB) and European Investment Fund activated an Equity Fund for Greece which will channel one billion euros (1.05 billion U.S. dollars) to small and medium-sized companies via Greek banks over the next two years.

Businesses operating in fields of particular interest for Greece, such as agriculture, tourism, energy as well as firms promoting youth employment to reverse the brain drain of recent years, will have access to the new credit line.

Presenting the new platform on Thursday, Tsipras expressed optimism it will facilitate investments, as even healthy companies are suffering from liquidity problems in the years of the debt crisis.

"After seven years of recession, Greek economy stands on the threshold of growth," Tsipras said, adding that in 2017 Greece will also return to bond markets for only the second time since the signing of the first bailout in 2010. Enditem