On March 25, the Governor of the Bank of Greece Yannis Stournaras addressed the London School of Economics Hellenic Observatory, focusing on
the Greek economy’s current developments, challenges and prospects.
The Governor stressed four points: the achievements delivered so far during the difficult years of the economic adjustment; thoughts on future challenges and prospects in view of the Eurogroup agreement on February 20; the reasons why Grexit is not an option; and finally, the sustainability of Greek public debt.
Stournaras underlined that the fiscal consolidation and external adjustment achieved have been of significant importance, as well as that Greece has recovered all of the cost competitiveness it had lost relative to its trading partners since joining the euro area. Moreover, GDP growth in 2015 is projected to be higher than in 2014 and to pick up even further in 2016.
