He said that without a clear indication as to how Greece will deal with its oversized debt, uncertainty over Greece`s position in Europe`s single currency bloc, the eurozone, will cloud the economic outlook and stunt consumer spending and foreign investment.
"Someone who has money won`t consume because Grexit hasn`t left the agenda, someone who has savings won`t take them back to the bank because Grexit hasn`t left the agenda" he said, referring to the term used to coin a Greek exit from the euro.
"Someone who wants to invest ... won`t invest because the basic decision of Greece`s midterm fate, hasn`t been made."
Greece`s European creditors have said they will consider some form of debt relief for Greece after they complete a first review of reforms the country must take under its new three-year bailout, an 86 billion euro package agreed on in July with the coalition government of Prime Minister Alexis Tsipras.
What form the debt relief will take remains unclear. Creditors — notably the country`s largest, Germany — have ruled out the idea of outright debt forgiveness, and any deal is more likely to include more favorable repayment terms such as longer repayments or lower interest rates.
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