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Finance Minister Hardouvelis Discusses Reform Needs

Yesterday, Greek Finance Minister Gikas Hardouvelis spoke in a Parliamentary discussion, regarding the omnibus bill and admitted EFNIA errors, according to reports.

Regarding the omnibus bill, the Minister stated its primary goal- to create a national development protocol and transform an internal consumption driven economy into an external demand entity, along with the generation of global goods and services, as reported by ANA-MPA.

In comparison to Argentina, Hardouvelis stated, "Greece, by contrast, took decisions jointly with its European partners and had their support". He spoke of lengthy financial stagnation and how to combat it, "The main tool to curb recessionary pressures is not policies aimed at boosting consumption; it is structural reforms and public investments".

The Finance Minster declared that Greece must confront reality now and said, "We should all agree – government and opposition – on the need for reforms...or at least some of the most significant provisions". He believes this would: "send a strong message of the maturity of our political system to our European partners and allies".