(Finance) – “With a stronger economy”, Greece “has been able to overcome the debt challenge”, with the country’s public debt-to-GDP ratio having “fallen 35 percentage points from a peak of 206% in 2020, one of the fastest declines in the world.” Furthermore, “two rating agencies recently promoted government bonds Greeks to investment grade status”. Christine LagardePresident of the European Central Bank, on the occasion of the gala dinner in Athens, organized by the Bank of Greece on the eve of the Governing Council of the ECB, which will be held tomorrow in the Greek capital (as part of the meetings which rotate every year outside from the institutional headquarters in Frankfurt).
Lagarde it refrained from making any statements regarding monetary policybeing in the “quiet period” preceding the operational decision meeting.
“Thanks to the hard work done to make the economy more flexible, Greece has managed to recover impressively from the pandemic – said the number one of the ECB – Real GDP per capita is now almost 10% higher than the pre-pandemic level: a much stronger performance than that of the Eurozone as a whole. The unemployment rate also fell sharply, standing at 10.9% in August, the lowest level since late 2009.”