by Maria Spiliopoulou
ATHENS, Aug. 24 (Xinhua) -- Political uncertainty and what appears to be a "perennial confrontation" between Greece and its international creditors are the main reasons the debt-laden country has been unable to exit its protracted financial crisis, according to a study carried out by Greek lender Eurobank, local newspaper "Kathimerini" (Daily) reported on Thursday.
International markets, citizens and the country's productive forces, the study contends, have shown "limited" confidence in the commitment of successive governments to implement the reforms required to lead Greece out of its seven-year crisis and back to normality and financial stability.
Although Greece carried out a raft of reforms with an unprecedented social and economic impact correcting many of the macroeconomic imbalances that had led to the crisis, it lagged in progress compared to other European economies that faced similar difficulties in recent years, Eurobank's analysts noted.
However, the climate seems to be improving after the conclusion of the second review of Greece's third bailout this summer, for the first time since 2014, according to the study.
Global markets and Greek citizens are gradually gaining more confidence in Greece's growth prospects and the possibility of a final exit from the crisis, the analysts stressed, pointing out to the recent test return to international bond markets in July for first time in three years as evidence of this positive change.
In order to leave the crisis behind and stand strong on its feet again, Greece needs to implement what it has agreed with lenders and enforce, without delay, a national program of reforms aimed at reviving Greece's productive forces, the study concluded.
