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Is reform fatigue holding Greece back?

Tuesday, Jun 10, 2014 - 01:19

June 10 - Prime Minister Antonis Samaras tells his new cabinet ministers that reforms to exit the crisis will continue but the goal is also growth and recovery. Joel Flynn reports.

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It might not be the most wanted job in the euro zone, but Gikas Hardouvelis is all smiles. The former eurobank chief has just become Greece's finance minister - the eighth person to hold the position since 2009. He's not expected to ease up on reforms but he does take the job at a time when things are beginning to look up. SOUNDBITE: Greek Finance Minister, Gikas Hardouvelis, saying (English): "The economy has stabilised, growth is coming, so it's important we continue with the reforms, it is important we try." He replaces Yannis Stournaras - who's thought to be heading to the Greek central bank as governor. The move was part of a wider cabinet reshuffle by Prime Minister Antonis Samaras. SOUNDBITE: Greek Prime Minister Antonis Samaras, saying (Greek): "The goal remains the same; to keep trying, to end the crisis, to end the bailouts, to maintain structural reforms, and, above all, to speed up growth, because the recovery has already begun." The IMF has warned against too much optimisim - fearing reform fatigue could hold the country back. After six years of recession and 240 billion euros of bailout cash Greek debt this year is still expected to reach 174 percent of GDP.

Is reform fatigue holding Greece back?

Tuesday, Jun 10, 2014 - 01:19

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