Stournaras: Greece has achieved an unprecedented fiscal adjustment

Finance Minister Yannis Stournaras in a recorded message that aired on the 15th Investment Capital Link Forum yesterday at the Metropolitan Club of New York spoke about an unprecedented fiscal adjustment for Greece.

Stournaras said that "Greece is implementing the most daring economic adjustment program of contemporary history" and that the country is now entering a "time of opportunity, where the Greek economy will claim a significant place in the global economy."

Among other things, he said that during the last 17 months, the Greek government has successfully set the program back on track to accelerate fiscal consolidation, improve competitiveness and implement structural reforms in many areas.

He added that the primary deficit has declined about 10% of GDP by 2009, "the biggest and fastest decline ever recorded by an OECD economy," Greece has regained much of her competitiveness and that confidence is gradually restored.

In conclusion, Stournaras said the country has advanced greatly and the Forum can help inform international investors for the effort to "transform the Greek economy".