Main opposition New Democracy (ND) leader Antonis Samaras does not disagree with the targets of stabilisation and streamlining of the Greek economy, but with the policy mix being applied by the government, party press spokesman Yiannis Michelakis said on Monday, commenting on the outcome of the recent EU summit.

The policy applied by the government is ineffective, and is trapping the Greek economy in high recession and excessive debt cycles, while it also leads to increasingly harsh and ineffective measures, the ND spokesman warned, adding that this was proved by the fact that the country has fallen short of all the forecasts.

He further noted the reservations voiced by Samaras over the participation of private concerns in the matter of the state bond risks, and his warning that this would increase the cost of borrowing for countries such as Greece.

Michelakis noted that ND has asked for the European Parliament's assistance in the backing of Greece under the EU structural funds and Common Agricultural Policy (CAP), among others, and reiterated that the main opposition party believes that nothing can be accomplished without growth.

He also anticipated that the PASOK government will take new, harsh measures, adding that ND was not convinced by assurances of the opposite by prime minister George Papandreou in Brussels.

ND believes that the 'package' decided at the summit will also have a cost, Michelakis said, and warned that the Memorandum policy was leading to bigger recession, which in turn will force the government to take more harsh measures.

Michelakis also announced that Samaras will chair a meeting of the ND executive secretariat at noon on Tuesday.