Van Rompuy: 'Greece must take measures to stabilise economy'

Greece must take all the measures required in order to stabilise its economy and the European Union must do everything in its power to avert a credit event or default, European Council President Herman van Rompuy said in Deauville, France on Thursday.
Van Rompuy, who was attending the G8 summit there, said during a joint press conference with European Commission President Jose Manuel Barroso that the problems of the eurozone will be discussed at the G8.
Referring to Greece in particular, he admitted that there was popular opposition to the measures but stressed that it was up to the country's political leadership to make the right decisions.

"We are confident that Greece will take all the necessary measures, will undertake all the necessary reforms so that the country will meet the budgetary objectives it has been given," Van Rompuy added.

Noting that a team of European Commission, European Central Bank and International Monetary Fund experts were currently in Greece in order to assess the state of the Greek economy, he underlined that it was an absolute priority to carry out the privatisations and structural reforms and said that the goals set were "achievable".
"As far as the restructuring of the debt is concerned, we will do all we can to ensure that there is no default or no credit event," he concluded.


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