Greece Needs to Stick to Promises Amidst Rising Global Uncertainty, Says Alpha Bank

(Photo by EUROKINISSI/ Panagopoulos Giannis)

ATHENS – The Turkish lira crisis and doubts regarding Italy’s fiscal rules have increased significantly the uncertainty on international equities and bond markets, said Alpha Bank in a weekly report published Friday.

“This development makes it necessary for Greece’s economic policy to remain with the boundaries of what has been agreed upon with (EU) partners and to promote reforms and privatisations so that confidence is boosted in our country in an environment of financial risks,” said the report.

In regards to the country’s labour market, Alpha Bank added that the economy is creating new jobs but added that rate of part time work remains high.

Unemployment in May fell to 19.5 percent, below the 20 percent mark for the first time since September 2011, pointed out the report.