N
o more talks about a Grexit! Everyone
agrees that Greece is an essential and
integral member of the euro zone.
Instead of a Grexit, there is now talk about a
“Grecovery”, a development expected to start
early next year.
The current government has made a great nation-
al effort, so as to ensure that Greece achieves
both financial and political stabilization in the
domestic front. Now it could be said that this
effort, combined of course with the painful sacri-
fices of the Greek people, has started to bear
fruit.
During the last 17 months, Greece has altered its
financial situation. The deficit has been reduced
to 15 percentage points of the GDP in just three
years. At the present moment, we are producing
a primary surplus for the first time in the past 10
years. The six-month estimate of the recession in
2013 is less than the predictions of the IMF and
the European Commission. The level of unem-
ployment during the second half of the year is, for
the first time in four years, less than the previous
one. Our banking system has been fully recapital-
ized. In addition, it is almost unanimously fore-
seen that recovery will bring an end to six years
of deep recession.
Personally, I am proud to be representing a coun-
try with a long tradition in shipping. Moreover,
Greece is now considered to be one of the great-
est nations of seafarers, with one of the world’s
largest commercial fleets.
For my country, shipping represents one of the
most important sectors of the economy. Although
the sector suffered for several years as a result of
the economic crisis, it has remained alive and
preserves its international presence. From next
January, Greece will try to solve the pending
Trade with Greece
34
By Miltiadis Varvitsiotis, Minister of Shipping, Maritime
Affairs and the Aegean
From January 1st, 2014, it is Greece’s turn
for the six-month EU presidency. After six
years of recession, it is of major significance
that the Greek presidency starts together
with the recovery of Greek economy.
Shipping:
Α Beacon in the Greek
Presidency Route to
Growth
