Popular Orthodox Rally (LAOS) leader George Karatzaferis on Saturday called for restructuring of Greece's debt and immediate general elections, speaking during a visit to Larissa to attend a party youth organisation event.

"We cannot survive on our own as a nation. The government must decide as soon as possible to proceed to a restructure of the debt and to immediately call (early general) elections," he said during a press conference.

Karatzaferis warned that the country was daily sinking deeper, while the political parties were each following their own path.

Although the March 25 EU summit decisions gave Greece a small breather, he said, restructure of the country's debt is inevitable because Greece cannot pay off a 300 billion euros debt, and recommended that Greece should tell its lenders that it will give them 10 billion euros annually over the next 30 years.

Turning to foreign policy, Karatzaferis charged that Turkey was "doing as it pleases" in the Aegean and that Greek prime minister George Papandreou was "at a loss and frightened", while also noting that Turkey is the 15th largest economic power in the world whereas Greece was 15th from the bottom.

On the Libya crisis, the LAOS leader reiterated that "Arab blood must not be shed by Greek arms".