Friday 17 August 2018

Greece doing far better than a year ago – German Finance Minister

German Finance Minister Olaf Scholz. Photo: AP
German Finance Minister Olaf Scholz. Photo: AP

Peter Maushagen

Greece is in a much better position than a few years ago, German Finance Minister Olaf Scholz said today, as Athens prepares to come off international financial aid.

Euro zone finance ministers will start discussions today on Greece's exit from eight years of international bailouts, focusing on how Athens wants to boost economic growth and finish the last reforms agreed with its creditors, officials said.

"There can be a much more optimistic view of Greece today than a few years ago," Scholz said before the meeting of euro zone finance ministers on today.

Greece is to return to market financing on August 20, which would end more than eight years of living on cheap euro zone loans it got in return for painful reforms, after investors refused to lend to it in 2010 because of its ballooning deficit and debt.

Reuters

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