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Central Bank Governor's Market Comments

Central Bank Governor Giorgos Provopoulos stated at an American-Hellenic Chamber of Commerce event: "Everything now points clearly to the prospect of an exit from the crisis after a long and deep recession".

He stressed the importance of administering reforms and the nation's need for a new growth mechanism. Provopoulos highlighted Greece's obvious exit from the financial crisis.

The Governor praised the nation's progress, its credit sector's improvements and fiscal adaptations that: "...has gone a long way over these years to get to a primary surplus".  Yet, he claimed that the nation has to take advantage of its new financial environment and revamp its business sector.

Provopoulos added that in order to maintain growth, a productive public sector is much needed. The sector must operate in a friendly manner with fluid market practices and appropriate competition, in addition to a decreased and more balanced enterprise tax, lower non-salary labor amounts and privatizations, which will entice international investments.