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Bank of Greece Governor: Country Must Continue with Reforms

“The markets are waiting to see whether Greece will honor its commitments regarding the implementation of additional measures after the (bailout) program ends on August 20,” said Bank of Greece Governor Yiannis Stournaras.
Stournaras spoke to the Financial Times saying that it is crucial for Athens to continue with reforms in order to maintain the markets’ trust. It would be wrong to assume that the debt relief agreement agreed with the Eurozone in June is enough to reassure investors that Greek bonds are a credible investment.
“Once we release, markets will follow a tough approach. They will want to see how we will manage after August 20,” Stournaras said.
The Bank of Greece governor also said that the Greek administration should avoid reversing unpopular reforms in order to gain popularity ahead of next year’s elections.

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