PM Tsipras: “The recovery of the banks is necessary to exit the crisis”

“Any attempt to exit the crisis must first see a consolidation of the banking system” argued the Prime Minister Alexis Tsipras in his address for to the ACT4Greece program of the National Bank.

According to the Prime Minister, the long-term recession has brought on a huge social and financial crisis and pointed out the dramatic decline of all social indicators.

Over 250,000 SMEs were forced to shut down, while those that have managed to survive are having to face low demand and expensive borrowing, he further explained.

Nevertheless, he added, about 1.7 million Greeks works in SMEs and as such, the country’s economic recovery must begin from them.