Moscovici:There is a light at the end of the tunnel, confidence in Greece has returned

There is “light at the end of the tunnel” and confidence in Greece has returned, European Commissioner for Economic and Monetary Affairs Pierre Moscovici said on Friday, while speaking before the members of Greek parliamentary committees. After nearly a decade of crisis and austerity, he added, Greece was nearing the end of the course and had entered the “home stretch”.

He explained that when one has covered 70-80 pct of the distance, all sides must then meet their obligations, noting that Greece’s partners will have to fulfill their commitments to complete the programme.

As he said, his wish is for Greece to return to normality, that is, to be a sovereign country with all the rights and duties, adding that “there must not be a fourth memorandum for Greece.” Moscovici expressed his strong desire that Greece should become a normal member-state like any other, with a prosperous democracy.

Greece must exit the rationale of the crisis and get into the rationale of ambition, he said, becoming a state with a prosperous economy that will grow and create jobs for the population that has suffered a great deal, especially for young people, in order for Greeks to stay in Greece, to live in Greece, to live in a strong and attractive country. “This is the first priority,” he underlined.

In this climate, Moscovici stressed that “in the coming weeks and months, a growth strategy for Greece will have to be created, which will include public finance commitments but will be designed for Greeks by the Greeks, not by the partners, but by the Greeks for the Greeks.”

He also referred to the need for “finance ministers and institutions to be able to put in place a package of measures to reduce the burden of Greek debt.”

Moscovici stressed the importance of further solidarity within the monetary union, adding that “growth cannot be complete unless it is accepted by the citizens. And prosperity will have no value if it does not reduce inequalities.”

“The eurozone does not satisfy citizens. There are many inequalities,” he said and underlined that we cannot adopt a eurozone of one, two or more speeds.