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Juncker: Eurozone Didn't Focus Enough on Greek Growth

The eurozone has focused on helping Greece putting its financial house in order while ignoring the vital question of growth, Eurogroup chief Jean-Claude Juncker said in an interview on Sunday, quoted by AFP.
“I believe we have not paid enough attention on the aspect of growth. … We have insisted on cleaning up public finances without giving alternative solutions or leaving the choice to Greece,” he told the Kathemerini daily.
Juncker, who is also Luxembourg’s prime minister, said it “was more logical from the start to emphasise growth. … Greece is in its fifth year of recession.”
Sweeping salary and pension cuts and higher taxes that have been imposed on Greece since 2010 by the eurozone and the International Monetary Fund in return for critical bailout funds have fueled recession.
The IMF, which decided on a new 28 billion euro loan for Greece on Thursday, said Athens could reach its debt reduction targets if it adheres to the tough austerity measures — including slashing minimum wages, trimming pensions and cutting 15,000 public jobs this year.

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