Vangelis Agapitos

We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Vangelis Agapitos is associated, including Germany and Greece. Most recently, Vangelis Agapitos has been quoted saying: “I think an uncontrolled bankruptcy will be up to Greece and the Greek government to avert. I think the story does not end with voting. The story ends with implementing. Europe is having difficulty to realise how the Greek state or the Greek government or the Greek political parties continue to play this game, even as the situation has got worse and worse.” in the article Greek debt fuels more downgrade threats. An other article where Vangelis Agapitos has been quoted is Crucial week in euro zone debt crisis.

Vangelis Agapitos quotes

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I think Greece has limited options because of the pressing need of the liquidity of the Greek banking system and of the Greek economy. At the same time, I think Germany wants to find a solution, and I think it will be a tough negotiation but some mid-way ground will be found, whereby Greece provides a balanced budget, provides the security of repaying most of its debt, while at the same time committing to additional reform.

I think an uncontrolled bankruptcy will be up to Greece and the Greek government to avert. I think the story does not end with voting. The story ends with implementing. Europe is having difficulty to realise how the Greek state or the Greek government or the Greek political parties continue to play this game, even as the situation has got worse and worse.

I think our European partners and Germany in particular, want additional assurances that Greece will deliver on its promises as agreed on the 21st of July of this year, while at the same time Greece needs to have the comfort that Europe will be on time to provide any further instalments.

The next couple of months are crucial and it needs to catch up and deliver tangible results that will demonstrate its commitment to meet the targets that it set out in the IMF and EU agreement.

The rescue plan will infuse liquidity into the system, much needed liquidity. It will buy Greece time. However, Greece needs to solve its own problems by passing painful structural reforms.

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