Former of Bank of Greece (BoG) governor Giorgos Provopoulos on Tuesday warned that he still doesn’t see the “light at the end of the tunnel”, referring to the ongoing Greek crisis.
Provopoulos, speaking at a book presentation in Athens, also said he doesn’t discern a “business plan” to exit the crisis, which is entering its eighth year.
“… but which could have extended roughly three years with a 10 to 15-percent reduction in GDP (as opposed to 30 percent) but with rapid growth, which in turn, would have deflected the losses.”
“The BoG had warned about what was to come, and we had recommended a fiscal program to reduce the ‘twin deficits’,” he added.
