Task Force chief: Gov't has determination, backing of European Commission

"The Greek government has the determination and ability to continue on the path of reforms for growth and employment, and they see this in Europe. The European Commission has the desire to support Greece on the recovery path, as they see in Europe that the government's intentions are serious," European Commission Task Force for Greece chief Horst Reichenbach told an Economist conference on Tuesday.

Addressing the second-day of an Economist round-table on "Reforms in Greece for restoration of growth, employment and competitiveness" Reichenbach said in reply to a question that he is optimistic, following his contacts with the Hellenic Association of Banks and with members of the government on the recpitalisation of the banking system over the coming months, but added that there is still remains to be seen whether that decision will be attained.

On the restoration of liquidity, he said there is a hopeful prospect that this will be achieved by 2015, adding that this hope is founded on the 4 billion euros annually t0 be forthcoming via the National Strategic Reference Framework (NSRF), noting that 2 billion euro are available for small and medium size enterprises (SMEs), although the recapitalisation of the banks remains the 'key'. He also referred to the creation of a financial tool so that capital exceeding 8 billion euro could be utilized by the real economy.

Reichenbach further noted the importance of efforts being made at all levels to simplify the licensing procedures, increase exports, improve the taxation and businesses climate and liquidity.

SOURCE: ATHENS NEWS AGENCY