Rehn: Greek pension system still too expensive

Olli Rehn, the governor of Finland's central bank, visited Athens Friday to take part in a conference organized by the Bank of Greece. Rehn, a familiar face in Greece from his time as European commissioner for economic and monetary affairs during Greece's first and second bailout, responded to questions from Kathimerini on the Italian crisis, the prospects of the Greek economy, and why the Greek crisis lasted as long as it did.
 

How concerned are you about the situation in Italy? Could it lead to another systemic crisis for the eurozone?

The planned deterioration of the general government structural balance will have negative implications for the long-term sustainability of public debt. Italy, together with European institutions, must work to avoid bad outcomes, but keeping in mind that Italy is primarily liable for the sustainability of its...