Friday, October 17, 2014

In the light of recent development at the Athens Stock Exchange which suffered losses, European Commissioner for Economic and Monetary Affairs Jyrki Katainen stated on October 17 that the EU will continue to support Greece and ensure "reasonable financing conditions" after the end of the current programme. In a written statement, Katainen noted among others, that Greece has made immense progress in creating a more competitive economy and a robust financial sector; “there should be no doubt that Europe will continue to assist Greece in whatever way is necessary to ensure reasonable financing conditions for the Greek state and to smooth the path back to full and sustainable market access,” he added.

Speaking in parliament on October 16, Finance Minister Gikas Hardouvelis stated [in Greek]: "The climate that emerged in markets in recent days does not reflect the outlook or the potential of the Greek economy." Furthermore, the Secretary General of the Ministry of Finance Tasos Anastasatos said (16.10) that the abrupt yield spread between the 10-year Greek and German benchmark bonds on Wednesday and Thursday (15-16.10) is related to an unjustified concern abroad about the future of the Greek economy.