This could be achieved by the methods envisaged in that Eurogroup statement or by other methods and would boost Greece’s growth prospects, provided that economic policy stays committed to fiscal adjustment, primary surpluses and reforms to re-launch the economy. This would also allow the required primary surpluses to be gradually reduced, freeing up more resources for the financing of the economy.
Let us not forget that such further measures to ensure a reduction of Greek public debt were, back in November 2012, made conditional to, and meant as a reward for, fiscal adjustment. This adjustment is now a reality. Reaching a new agreement with our partners may be a necessary condition for the recovery to take root and gain traction.