Greece is a success story: Mario Draghi

Mario Draghi

Mario Draghi

Outgoing European Central Bank (ECB) President, Mario Draghi on Thursday referred to Greece as a success story.

Draghi made the comments, when referring to Greece’s economic course as seen through his eight-year tenure as European Central Bank (ECB) President during what was his final press conference.

“Greece recently managed to sell bonds at a negative yield for the first time, whereas a few years ago was on the brink of collapse,” said Draghi.

The former ECB President will be replaced by former International Monetary Fund Executive Director Christine Lagarde, who will take the mantle as of Nov. 1.

During the press conference he was asked by a journalist if Greece was a success story, as when he took on the ECB presidency the country was in a bailout program and now it seems to have recovered out of it.

“Greece is clearly a success story and it owes it to the efforts of its governments,” but also to the “hard sacrifices of its people.”

Draghi noted that the policies implemented in Greece are paying off, and that “it’s a good time for Greece,” but also mentioned the “dangers pending from undoing these policies.”

Mario Draghi did, however, say that he feels as though there is no danger “that the reforms which contributed to the country’s exit from the crisis will be reversed.”

“It’s a good time for Greece, and for Europe as well,” he noted.