Moving forward in this direction would safeguard the monetary union’s resilience, its viability and the long-term prosperity of its citizens. 7/9  BIS central bankers' speeches  7. Conclusions Over the past seven years, Greece has gone a long way in adjusting its major macroeconomic imbalances, reforming its economy and restoring competitiveness. The economy is now recovering and growth is gathering pace.
An important factor behind this improvement was the emergence of a strong political consensus in favour of keeping Greece in the euro area. In their majority, Greek political parties are not only in favour of the euro, but also have supported measures in Parliament, sometimes with heavy political and social cost, to ensure that Greece remains in the euro area.