Centeno says Greece on its way to turn the page, complete adjustment program

Mario Centeno, Portugal's Finance Minister and newly elected President of the Eurogroup, holds a news conference at the European Council headquarters in Brussels, Belgium, December 4, 2017. REUTERS/Yves Herman

Greece appears to be on its way to complete its third adjustment program this year and turn a page, the new Eurogroup president Mario Centeno said on Wednesday, during a speech titled “Keeping the momentum in the Eurozone -2018 and beyond”, at the German finance ministry in Berlin.

“Greece seems now to be on its way to turn the page and conclude its third program this year. We will need to make sure they can stand on their own feet with sustainable market access at the end of the program. And for the day-after, Greece will benefit from incentives to stay on course with their nationally-owned reform process and sound policy-making,” he said, according to a transcript of his speech.

Centeno also noted that former program countries are seen as reform champions by independent studies of institutions such as the OECD and the IMF, thanks to their efforts during and after the crisis.