Greece was placed back on the list of “marketable risk” countries for short-term export credit insurance by a decision of the European Commission on Tuesday, after the successful completion of its fiscal adjustment program in August 2018 and the continuing implementation of reforms, ANA reports.
The decision, to be activated on January 1, 2020, will mean that “short-term export credit risks towards Greece will be considered as marketable to be covered by private insurers,” the European Commission said in an announcement.
Greece was removed from the list in 2013, the Commission said, and “the most recent amendment [prolonging the decision] expires at the end of 2019.”
The EU’s decision will create for Greek companies equal terms with their Europen counterparts in the critical field of transactions abroad and signals the recovery of credibility by the Greek economy, it also noted.
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