In-Briefs

Greece: Finance Minister Warns Against Slowing Reforms

January 17, 2013
| Economics
| Europe
Greek Finance Minister Yannis Stournaras said today Greece must continue to implement economic reforms and resist public pressure to slow austerity . . . Stournaras said there are signs that Greece is starting to emerge from its debt crisis, but that it is too early “to declare victory” . . . he said bond prices are rising, and that 2013 will register a 0.4 percent surplus instead of the expected 0% . . . yesterday, the IMF agreed to release the next aid tranche to Greece, saying it is moving in the right direction . . . while there are small signs of improvement in the Greek economy, it remains extremely troubled and hobbled by high unemployment, negative GDP and a heavy debt load . . . public demands for relief from austerity are likely to continue, which will press the ruling coalition to reconsider the most difficult reforms . . . however, continued aid flows will help mitigate some of the pain and help the government to avert public pressure.


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