Greece to Show Positive Growth Rates in Q3, FinMin Says

"After six years of continuous shrinking, the Greek economy is expected to have a positive real growth rate in the third quarter of 2014 and a positive annual real growth rate of GDP in 2014, a 'breakthrough' development," Greek Finance Minister Gikas Hardouvelis said on Thursday.

Addressing a Francophone Economic Forum in Athens, the Greek minister said that the next day after the memorandum must be "a day of reasonable responsibility" and urged banks, particularly after completion of the stress tests round, "to become the basic pylon of growth, funding investments and offering liquidity to enterprises".

Hardouvelis reassured that fiscal credibility and structural changes would be protected and added that recent fluctuations in capital markets demand a better coordination in the Eurozone and consistency among member-states in completing their reform programs and fiscal convergence.