Recession is coming to an end and Europe's exit from the crisis is obvious, Finance Minister Yannis Stournaras said adding that Greece can look to the future with greater optimism. "The country has secured its place in the eurozone and regained its credibility in the international markets," Stournaras said during a dinner of the European Securities and Market Authority summit on May 19.

The numbers of the general government in the first four months of 2014 show that the fiscal performance will exceed the targets, he added. Referring to the European economy, the Stournaras said that the most recent economic data suggest that the recovery has gained momentum and that the outlook for this year is better. According to Stournaras, fiscal adjustment is relaxing, confidence is gradually returning to the European economy and GDP is returning to a growth track.

During a press conference in Luxembourg on last week's founding of a Greek investment fund - the Institution for Growth (IfG) in Greece - Finance Minister Yannis Stournaras and Development and Competitiveness Minister Costis Hatzidakis announced yesterday (20.05) that the fund will start disbursing money to small and medium-sized enterprises (SMEs) as of September.

Hatzidakis said that Greek SMEs will be able to receive loans of up to €1 million via the fund, at interest rates that are expected to be between 1-3% lower than market rates.

Greek News Agenda: Investment Fund to Begin Operating