Reichenbach hopes for end to PSI and Greek sacrifices

The head of the EU Task Force for Greece, Horst Reichenbach, has called for an end to the uncertainty surrounding Greece’s debt restructuring and to the sacrifices being made by citizens so that the Greek economy can be revived. Speaking on Friday, Reichenbach expressed the hope that the PSI issue would be concluded soon as the uncertainty surrounding Greece’s future is making it extremely difficult to attract investment. The Task Force chief also said that Greeks were sacrificing much more than other Europeans as a result of the crisis and questioned whether this could continue. “Greece can not go on with the policy of continuous sacrifices,” Reichenbach was reported as saying. 2They are very deep and lead to the decline of domestic demand and strong reductions in economic activity. “Today, the burden and the reduced income of an average Greek is twice what the average Portuguese has to sacrifice and three times more than the average Spaniard.” Earlier this week, Reichenbach had called for Greece to be given more time to carry out structural reforms.


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