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Greece heading for 'sustainable recovery,' says EU

Greece heading for 'sustainable recovery,' says EU
By Damon Embling
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Greece gets a confidence boost from Brussels as it exits third and final bailout


In Brussels, the EU says Greece is on the path to sustainable recovery - as the country leaves its third and final bailout.

But, after eight years of financial turmoil and painful austerity, Athens still has work to do to get its finances in order.

"Let's not imagine that there is no discipline needed that there is no reform needed and the lessons of the past must be forgotten. That would be silly. Greece is now a normal country. What does it mean?" commented Pierre Moscovici, EU commissioner for Economic and Financial Affairs.

"It means that there is no programme anymore. It means that we are not going to monitor the reforms taken by Greece in the future. It means that we are not going to impose one way or another any kind of measure or any kind of decision."

Greece's debt problems put the eurozone on a cliff edge, risking a so-called 'Grexit.'

Crashing out would have had big consequences, but that was averted. Brussels and Athens are now looking forward to a more buoyant future.

Moscovici said the Greek economy is expected to expand around two percent this year and next after growing 1.4 percent last year.

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