August 9, 2010
"Pessimism in Greece in misplaced " - Paul Thomsen
More weighted positives from International Monetary Fund Greek mission chief Paul Thomsen, from article by Nick Skrekas at the Wall Street Journal:
"...Poul Thomsen, said Friday that the debt-laden country will pull through and gain the trust of markets again as long as its resolve to implement reforms doesn't waver.
On Thursday at a joint press conference in Athens the IMF, the European Central Bank and the European Commission said that Greece had made impressive progress and implied that the second EUR9 billion tranche of the three-year, EUR110 billion bailout program will be paid in September.
"The pessimism in Greece in misplaced because by 2012 the country will have a primary surplus and a deregulated economy with viable social systems. But the caveat is that the program is implemented properly," Thomsen told Dow Jones Newswires in an exclusive interview.
..."The basic strategy of the program is to take Greece out of the market for two years and allow Greece to create a track record and that is why we are putting in so much money in. Confidence will only improve if the program is executed properly," said Thomsen.
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