The agreement on debt is a significant accomplishment, but it is even more significant that the two main causes of the economic crisis, i.e. the budgetary deficit and the trade deficit, have been successfully tackled, Environment and Energy Minister George Stathakis said, addressing an event held by BNP Paribas in Athens. Mr. Stathakis also stressed that the agreement on the debt relief is a rational solution.
Growth is now dependent not only on consumption, but also on the effective enhancement of exports and of other sectors, apart from tourism and shipping, while the bank sector has been stabilized, he said. In addition, the Minister underlined that a new landscape is formed in the energy sector through market liberalization and privatizations. “We managed to maintain public control on companies controlling the grids and the infrastructure, with the participation of a strategic investor, while the commercial section is privatized,” he concluded.