Samaras: Drastic change of Memorandum conditions

Main opposition New Democracy (ND) leader Antonis Samaras called for a drastic change in the conditions of the Memorandum as the only solution to Greece's economic problem, in a statement at ND headquarters shortly after a meeting with prime minister George Papandreou ahead of the critical eurogroup and EU summits later in the month.

The problem today is the asphyxiation caused to the Greek economy by the Memorandum itself, Samaras said, adding that even if auspicious decisions are secured at the EU summits on management of the debt, such as extension of the EU/IMF support mechanism loan's repayment period, that of itself will not suffice to solve the problem.

According to ND sources, the premier briefed Samaras on his intention to put forward matters concerning management of the debt at the upcoming summits.

Samaras, on his part, reiterated his own positions in favor of the issue of a euro-bond, the issue of a developmental bond, and extension of the repayment period for Greece's 110 billion euros support mechanism loan, as well as reduction of the cost of borrowing and the repurchase of Greek bonds.

The main opposition leader said he was promoting these positions in his meetings with EU officials as well as his counterparts in the European People's Party, especially of those countries facing similar problems, such as Spain, Ireland and Portugal.

Samaras further stressed that such a package deal should in no way entail new, harsh measures for the Greek economy.

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