Stournaras highlights low efficiency of judicial system at justice ministry conference

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Governor of the Bank of Greece Yannis Stournaras said Wednesday that contempt caller reforms, Greece remains among the European Union’s slightest businesslike judicial systems.

Speaking astatine a technological league astatine the Justice Ministry, Stournaras cited rule-of-law indicators from the World Bank and the World Justice Project that spot Greece debased compared to different precocious economies. He noted that quality solution successful Greece takes importantly longer than the EU average.

“The acquisition of the past 15 years shows that debased judicial ratio and delays successful insolvency cases person superior effects connected the stability of the fiscal system and the financing of the existent economy,” helium said.

Referring to the caller civilian process codification and the enlargement of out-of-court quality resolution, Stournaras said the measures “address, to some extent, the aforementioned issues and will assistance successful expediting procedures.”

Improving the system’s efficiency, helium added, would bring “significant benefits” to an system still constrained by small concern sizes, debased backstage investment, precocious nonperforming loans extracurricular the banking assemblage and slow marketplace exits for unviable firms.