No room for Greek er­ror to keep loan

The Pak Banker - - Company& -

ATHENS: Greece can af­ford no de­lay to a painful shakeup of its debt-bur­dened econ­omy in or­der to main­tain a loan life­line from the EU and the In­ter­na­tional Mon­e­tary Fund that keeps the coun­try afloat, the Greek fi­nance min­is­ter said Sun­day. "We can­not af­ford to lag be­hind (with re­forms), not only in the next trimester but in any trimester," Ge­orge Pa­pa­con­stanti­nou told To Vima news­pa­per in an in­ter­view.

"Not only be­cause we en­dan­ger the coun­try's fi­nanc­ing but mainly be­cause the coun­try and so­ci­ety al­low no more time for de­lay in do­ing what is nec­es­sary to over­come the cur­rent deadlock," he said.

Greece has com­mit­ted it­self to dras­tic re­forms and cut­backs in its overblown state sec­tor in re­turn for a 110-bil­lion-euro (148-bil­lion-dol­lar) EU-IMF loan that saved it from bank­ruptcy ear­lier this year. -PB News

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