"Very positive signal": Lindner sees a comeback in the Greek economy

In 2010, Greece’s high national debt made it the EU’s problem child. During his visit to Athens, however, Federal Finance Minister Lindner is optimistic about the future: the country is beginning to normalize economically, which he “expressly appreciates”.

During his visit to Athens, Federal Finance Minister Christian Lindner praised Greece’s economic progress. “The Greek government has made great efforts,” said the FDP leader in the Greek capital. The economic data and also the figures on the state budget are strong. “That finds our express appreciation.” Lindner spoke of an important week for Greece, which was at the center of the debt crisis in Europe more than ten years ago.

On Thursday, the European finance ministers are to give the green light to end the increased monitoring of the reform program. “This is a very positive signal,” said Lindner. Then there are only regular checks. Greece’s Finance Minister Christos Staikouras said the cooperation was beneficial, characterized by trust and respect. His country is striving for stable finances and returning to normality. This will close a difficult chapter that began in 2010. In recent years, the austerity and reform requirements have gone hand in hand with huge aid for the highly indebted country and have repeatedly led to massive protests in Greece.

Lindner said the situation in Greece was beginning to normalize. However, the mountain of debt, which is almost twice the economic output, is still very high. The debt would have to be reduced and become sustainable in the long term. Despite the signs of higher interest rates, there is no reason for concern in the short term. Greek debt is very long term and mostly in the hands of public investors. The Greek economy had grown by 2.3 percent at the beginning of the year. In the spring, experts are expecting positive impetus from tourism. Lindner is the first German finance minister to visit Athens since 2014. At that time, Wolfgang Schäuble was largely hated locally because he had enforced strict austerity requirements in the EU.