Stournaras says Greece to stay in recession for H1 2016

Greek CB governor out on Reuters

• successful completion of bailout review will improve economic climate
• completion of review must be swift
• high level of non-performing loans main challenge for Greek banks
• failure to complete first bailout review would be destabilizing
• Greek economy can rebound in 2016
• there must be no repeat of protracted negotiations as seen in early 2015

Speed and completion of bailout review will depend on pension reforms so he'd better have a word with his government.

Greek CB gov Stournaras - Bailout review needed quickly