The representative of the International Monetary Fund, Paul Thomsen, gave an interview at Ethnos newspaper and stated that in order to avoid further painful cuts, Greece should continue with the reforms and modernize the financial institutions, such as strengthening the tax administration.

Mr Thomsen believes that the causes which have prevented Greece from exiting memorandum are the political unrest in 2011-2012 and the “lack of broad political support,” which created doubts on the position of Greece in the eurozone.

Also, the representative of IMF points out that the economic conditions have begun to get better and that there is light “at the end of the tunnel” and growth is expected in 2014, “after six years of recession.”

Mr. Thomsen emphasized also the importance of timely implementation of structural reforms and referred specifically to trade and service liberalization and repeal of excessive restrictions on the labour market.