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GreekReporter.comEuropeBarroso Sees Light at the End of the Tunnel

Barroso Sees Light at the End of the Tunnel

04C341751F8952ABF04C2751FFA67CBEEarly in the afternoon of Sept 17, the Prime Minister of Greece Antonis Samaras held a meeting with the President of the European Commission José Manuel Barroso as part of the series of contacts he is making in Brussels, Belgium.

During their common press release, Samaras said that, “Greece satisfies the goals of the program and that the financing gap in the years 2015 and 2016 must not be covered by austerity measures, but with structural reforms and the support of the Eurozone partners.”

As he underlined, in November 2012, Eurogroup committed to further supporting Greece if the country succeeds a primary surplus.

Samaras noted that Greece is close to creating a primary surplus, that the recession this year was smaller than what was originally predicted, that 75 percent of the structural reforms has already been implemented and that the Greek program is on the right track again.

The president of the European Commission appeared optimistic, saying that the end of the tunnel is finally near, with a gradual return of development in Greece, and estimated that there are positive results concerning the implementation of the program.

As he noted, in the last years Greece had a great delay in absorbing structural funds, but today the country is fourth in the table of best performances regarding funds absorption.

When he was asked whether the country will need further help to cover its financing needs, Barroso did not make any particular comment. However, he estimated that by 2020 the Greek debt will be under 120 percent of the GDP.

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