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Monday, December 15, 2014

EU Commissioner Moscovici: A Grexit Would be a Pity Now

“It would be a pity for Greece to face Grexit again after the considerable work that has been done.” This phrase sums up the message sent to Greece by the European Union Commissioner for Economic and Monetary Affairs, Pierre Moscovici, while exiting the 45-minute-long meeting with Greek Prime Minister Antonis Samaras and Finance Minister Gikas Hardouvelis at the government headquarters in Athens. While stressing that there are still reforms that have not been complete, he recognized that significant progress has been made and the Greek people have made many sacrifices. Moscovici underlined that he came to Athens in order to discuss with the country’s authorities over the “next day” of the Greek bailout program, the closure of the evaluation and the preventive credit line “that would protect Greece” in the first post-Memorandum year, 2015. In addition, he revealed that he is in constant contact with Hardouvelis in order to shape the next day after the Memorandum, which will find the country adopting the precautionary credit line (ECCL). The European Commissioner refused to answer reporters’ questions regarding the upcoming critical Presidential election, saying that he does not want to intervene in internal politics. “This is not my field,” he characteristically said. Referring to the Greek economy, he said that “it is obvious that important progress has been made in recent years and months,” while saying that no one in the European Commission can question this progress. However, he noted that there is a need of structural reforms, not only in Greece but also in other Eurozone countries, acknowledging that Greece and the Greek people have made a great effort, “the greatest ever,” as he highlighted. “But if we look at the growth and unemployment figures, it was necessary to make these reforms so that the Greek economy would become more robust,” he continued, clarifying that “there must be more reforms by the current program, which has been extended for two months (in order to achieve) a different kind of relationship between the European Union and Greece through the credit support line.” Regarding the Greek government’s relationship with the European Union and its relation with its partners, he said that there is an effort to take it to a different level. “The citizens should be aware of these. Be aware of the precautionary credit line and, why not, of a support line with the International Monetary Fund (IMF). We are working to get something clean after the current program and I am here as a friend but also stable in my principles.” In another question on the danger of a Grexit, Moscovici said: “It would be a pity, as the Greek government and the authorities have done so much work, have put so much effort and so many painful things, and especially now that we are closing the evaluation and the program, and we move into a different kind of relationship, with more harmony.”


READ THE ORIGINAL POST AT greece.greekreporter.com