Greece does not need third support package, FinMin says
Greece will not need a third support package, Greek Finance Minister Gikas Hardouvelis told ANA-MPA shortly after his speech in the City of London on the closing day of the 9th Road Show of the Athens Stock Exchange on Friday.
"We are nearing an era that the memorandum will end," he said. "Greece does not need a third support package, it has come out to the markets and will continue doing so to close the bond yield curve. There were many foreign investors in this conference. They all showed strong interest in investing in Greece and not only in state privatizations but elsewhere as well. And they want to because they see the prospects of the Greek economy."
Hardouvelis noted there was no danger of the Greek economy going downwards. "There is only the prospect of moving up. And this prospect is based on the fact that Greece achieves its goals. We will have a growth rate of around 3.0 pct in 2015," the Greek FinMin said, adding that "our European partners will help us to achieve this goal since their motive is to perform well and to repay our debts. Structural reforms continue and the people will adopt them as they see their incomes rising slowly. I think that from now on will see only positive things for the Greek economy. Even credit-rating firms will upgrade us and of course yield spreads will continue falling".
Hardouvelis categorically dismissed talk of additional fiscal measures. "No, we are far away. Next year, our revenues will rise because citizens' incomes will rise and not because we insist on additional taxes," he said.
The Road Show ended with more than 1,000 meetings held between 200 fund managers and 31 Greek-listed enterprises.
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