Published on Sun, Jun 26, 2011 at 11:24 | Source : Reuters
Updated at Sun, Jun 26, 2011 at 12:24
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Time runnring out for Greece, says central banker
Time is running out for Greece which needs to end debate and move ahead with concrete actions to overhaul its debt-strained economy and reassure its partners and financial markets, the country's central bank chief told the daily Kathimerini on Saturday.
Time is running out for Greece which needs to end debate and move ahead with concrete actions to overhaul its debt-strained economy and reassure its partners and financial markets, the country's central bank chief told the daily Kathimerini on Saturday.
"Now we have to convince with actions that Greece does not want to destroy itself, to get away from rhetoric and move to reformist action," Bank of Greece Governor George Provopoulos told the newspaper.
He said it was an illusion to believe there was an easy way out of the crisis and dismissed suggestions there was any alternative to the austerity measures agreed under a bailout deal with the European Union and International Monetary Fund.
But Provopoulos said the package of spending cuts, tax hikes and privatisations due to be voted in parliament next week did not put enough emphasis on curbing spending and that the burden on taxpayers had reached its limits.
