World Bank to 'N': Greece 'not out the woods' yet

The World Bank's top executive in Europe this week cautioned that Greece must not slacken efforts to implement reforms in the crisis-battered country, especially structural changes. In an interview with "N", Arup Banerji, the World Bank Group's regional director for European Union countries, first predicted that "there is a long road ahead" in the country's economic recovery, while citing several items on a "to do" list for Athens, such as eliminating remaining obstacles to business start-ups and entrepreneurship, investing in human resources as well as improving the social protection "safety net", but towards the direction of helping return the unemployed to the job market. In terms of Europe, he called for the creation of sufficient fiscal space in order to deal with a future crisis.