Obama: Debt relief would fuel the Greek economic recovery, show that Europe can work for everyone

eKathimerini — Speaking to Kathimerini.  ahead of his two-day visit starting on Tuesday, president Obama, the outgoing US president, said that Greece must continue on the path of necessary reforms, which he said can only be sustainable if people are given hope.

Obama praised bilateral ties, lauding Greece’s contribution to the NATO alliance despite its “economic hardships,” and the close cooperation on counterterrorism. He also commended the “inspiring” generosity the Greek people have shown to the refugees.

His visit comes at a time when Greece is at the forefront of pressing challenges to shared security and prosperity he said.

His message to Athens will be that Americans will continue to place enormous importance on their alliance with Greece. Despite facing extraordinary economic hardships, Greece is one of five NATO Allies that spend 2 percent of GDP on defense.

The president made specific reference to Greece’s close cooperation at Souda Bay saying that the EU and NATO are extraordinary forces for peace and stability.

As long as Greece continues to take the hard steps of reform at home and works to ensure that migrants are treated in an orderly and humane way, the Greek people will have a friend and partner in the United States.  Greece – the birthplace of democracy and an inspiration for America’s founders – will be a chance to reaffirm the enduring values of democratic governance, diversity and tolerance that help keep us strong. We see those values every day across our countries, including among the many Greek Americans who contribute to the success of the Unites States every day.

President Obama commended  the Greek government, including Prime Minister Tsipras, and the Greek people for the very difficult and painful steps they’ve taken to show that Greece is working to help itself. The Greek budget is now in surplus and Parliament has passed tough reforms that will help make the Greek economy more competitive president Obama said.

But there’s still clearly more to be done he added in order to  lay the foundations for a stronger economic recovery that will help improve the daily lives of the Greek people.

“I am a strong believer that to make reforms sustainable, people need hope. The International Monetary Fund has said that debt relief is crucial to put Greece’s economy on a sustainable path and set the stage for a return to prosperity. This is why I will continue to urge Greece’s creditors to take the steps needed to ensure the country is well placed to return to robust economic growth, including by providing meaningful debt relief. Getting that done would not only fuel the Greek economic recovery, it would also show that Europe can make its economy work for everyone“. president Obama said.

President Obama will visit Berlin on November 17-18,  where he will meet with Chancellor Merkel to discuss “a wide range of bilateral, regional, and trans-Atlantic issues”.