|
 It said a recovery in the second half of 2016 was "within reach"
after a shallower-than-expected recession, provided the government
fully implements the reforms in the country's third bailout
agreement and takes ownership of the program.
"Now that consensus has been built, which is by all means an
achievement, it must not be allowed to disintegrate," the Bank of
Greece said in its interim monetary policy report.
Athens has to introduce deeper reforms in the next two months to
make its ailing pension system viable, including merging several
pension funds into one and cutting back supplementary pensions.
Prime Minister Alexis Tsipras failed to secure the backing of
opposition parties last week for the pension reform after his
government's majority shrank to just three seats last month.
The central bank said speeding up privatizations and maximizing the
value of state-owned real estate were the most powerful tools to
revive investment and growth.
A successful completion of the first review of the bailout program
by Greece's creditors early next year would lead to Greek banks
regaining access to cheaper funding from the European Central Bank,
and to Greek government bonds being purchased in the ECB's
quantitative easing program, it said.
[to top of second column] |
That appeared to contradict a comment by ECB Vice-President Vitor
Constancio on Thursday that other conditions were required to
include Greek bonds in the asset purchase program.
(Reporting by Lefteris Papadimas; Editing by Paul Taylor)
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