The head of the Athens-based Foundation for Economic & Industrial Research (IOBE) director Yannis Stournaras on Wednesday expressed his conviction that the country will be completely changed for the better in a year, "if the government can withstand pressure and if Europe proceeds with a debt relief mechanism".

Speaking to an Athens radio station, Stournaras said such a mechanism will allow Greece to implement necessary reforms without markets' pressure.

"I do not share the views of certain people here in Greece, who consider that we'll be saved if the mechanism is created; that public debt will be reduced. No, this is not the case. This mechanism will simply be a mechanism for recycling surpluses from surplus countries to deficit-plagued countries, and will merely rescue us for a year," he said.