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Home BUSINESSGreece needs political will to repay debt: Governor
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Sun, 01 Feb, 2015 12:06:45 AM
FTimes – STT Report, Feb 1
the Governor of the Bank of Finland, Erkki Liikanen. Photo – Lehtikuva.
Greece is able to cope with its obligations for repaying the debt, if a political will can be found, said the Governor of the Bank of Finland, Erkki Liikanen on Saturday.
Talking to the national broadcaster YLE in its Ykkösaamu (morning breakfast) programme, Liikanen pointed out that Greece's solvency is better than it looks since the country has received preferential loans from its European partners and the International Monetary Fund.
The loans have very long maturities and the interest rates are close to zero. According to Liikanen, Greece's situation in respect to this is much better than Italy or Portugal stating that Greece should be able to cope.
Liikanen pointed out that many positives signs have been observed in the Greek economy.
The country has a surplus budget, its current account is in balance and indebtedness has been halted.
"I hope it continues this way," said Liikanen.
The Bank of Finland’s Governor did not want to make comments on the statements by the new Greek government.
According to Liikanen, there is still a need to monitor the new government's policy formulation as it is only a week after the elections.
"I do not think anyone can escape the economic figures and realities," said Liikanen.
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