Greek ambassador to Romania: Lack of discipline got us where we are today

The Greek government should have been more disciplined in applying the necessary fiscal measures in the past, to avoid the current situation that turned Greece into the euro zone's weakest link. The Greek state is not the only one coping with such problems, though, warns Georgios Poukamissas, the Greek ambassador to Romania, in an interview with ZF. It is interesting to point out that, until last autumn, the Greek state was able to grant fiscal incentives to banks, in the extent to which they needed such support so as not to face trouble. As an irony of fate, the state is now the one facing trouble. Banks, though, owing to their conservatory management and the state's intervention, are sound and robust. Moreover, the way the central bank has coordinated and managed the situation was highly efficient. Now, Greek banks have the power to successfully cope with potential future problems. This is true for the Romanian operations of Greek banking groups, as well. The position of the banks present in Romania has been even strengthened, with the respective banks being capitalised through cash injections from Greek parent banks. Thus, I can say the Greek banks in Romania are well equipped to withstand business environment pressures, the Greek ambassador said.