“In a year we will know what with did with the reforms in Greece,” head of EU Task Force Horst Reichenbach told during a public hearing of the European Union. Speaking at the Committee on Budgetary Control of the European Parliament in Brussels about the application for financial assistance from the EU budget in Greece, Reichenbach said that ‘conditions were ready for an agreement that Greece could start the big major road projects.”
H also revealed that the EU Task Force is expected to stay in Greece for another two years and stressed that the success of the mission depends largely on the attitude of the Greek side to promote structural changes in the economy.
“The current government has done important work which must be continued, ” Reichenbach praised Samaras government.
However, he predicted that the Greek banking sector will have problems for a long time and noted that the structural funds could help to overcome the liquidity problem plaguing the Greek economy.
Greece has so far absorbed 56% of the structural funds and is above the EU average.
Whether the EU Task Force would help also small and medium enterprises and not only big projects, it hasn’t been revealed by Horst Reichenbach. Neither did he say why aspiring entrepreneurs still need dozens of papers and weeks to start a business.
PS I am afraid that after years of harsh austerity, fiscal adjustments and other economic crap at the very end the same people would profit from the famous slogan “Grecovery* is near”.
*Grecovery = Greece+Recovery, in opposition to Grexit = Greece + [euro] exit
