Getting Greece back on the path to growth is a challenging and multidimensional task. A strong financial sector is an important start and would be the best tool to restore investor confidence and kick-start credit growth, especially for small and medium-sized enterprises (SMEs), which in Greece account for 86 percent of jobs and more than 80 percent of the private sector.
To help revive the financial sector and put much needed liquidity back into the system, the International Finance Corporation recently acquired 150 million euros worth of shares in Greeces four main banks. The recapitalization of Greek banks is a key step toward restarting lending and economic activity by supporting smaller businesses.
But the job of restoring financi…
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