Greece Returns to List of ‘Marketable Risk’ Countries on Jan. 1

Athens, Syntagma square. Photo: Visit Greece / H. Kakarouhas

Greece will return on January 1 to the list of “marketable risk” countries for short-term export credit insurance following a decision on Tuesday, by  the European Commission.

“As of 1 January 2020, short-term export credit risks towards Greece will be considered as marketable to be covered by private insurers,” the Commission said in a statement.

The Hellenic Federation of Enterprises’ (SEV) expressed its satisfaction with the decision, which comes as a result of implemented reforms agreed with Greece’s creditors on its bailout program exit in 2018.

Greece was removed from the list in 2013 with short-term export credit risks towards Greece considered temporarily “non-marketable”.

SEV has repeatedly stated that ensuring financial and overall economic stability and the country’s return to ‘normalcy’ after lifting complete capital controls, paves the way for Greece to be placed again among trading countries .

“Despite the recession, there are healthy and dynamic Greek businesses that continue to operate and should no longer be excluded without first considering their positive history covered by their customers,” SEV said, adding that there have been many cases of overseas suppliers disrupting business relations with Greeks citing issues of solvency and credibility.