Paolo Gentiloni says Greek debt can remain sustainable by implementing the Recovery Plan

Paolo Gentiloni says Greek debt can remain sustainable by implementing the Recovery Plan

The Greek debt can remain sustainable in the future by maintaining the current momentum for reforms and implementing the Recovery Plan, EU Commissioner for the Economy, Paolo Gentiloni, said on Thursday at the 7th Delphi Economic Forum.

The Commissioner added that this will be the basis for ensuring that Greece exits the enhanced surveillance regime later this year, which is to be decided in June.

Gentiloni stressed that the Greek debt is sustainable and that there are several factors that reduce the risk, such as its long repayment period and the low cost of financing, which is supported by the European Central Bank.

Asked when the bonds issued by Greece are expected to return to investment grade, he noted that there have been positive developments in recent years. For the immediate future, he said, it was difficult to make predictions as inflation and war created new problems, but overall the path to this very important goal is clear.

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