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PM welcomes EU decision for permanent stability mechanism

Δημοσίευση 20 Δεκεμβρίου 2010, 11:23 / Ανανεώθηκε 27 Ιουνίου 2013, 14:55
PM welcomes EU decision for permanent stability mechanism
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Prime Minister George Papandreou has welcomed the results of the European Union summit and the decisions taken for a permanent European stability mechanism. In statements after the end of the EU leaders' summit on Friday night, Papandreou said that such a mechanism would ensure the fiscal stability of the entire eurozone, speeding up structural reforms and boosting growth.

Prime Minister George Papandreou has welcomed the results of the European Union summit and the decisions taken for a permanent European stability mechanism. In statements after the end of the EU leaders' summit on Friday night, Papandreou said that such a mechanism would ensure the fiscal stability of the entire eurozone, speeding up structural reforms and boosting growth.

He also welcomed the decisions taken as a "first step" toward a more powerful economic governance of the EU.

"We started out 14 months ago as a newly elected government in exceptionally difficult conditions and, at a very rapid rate, we diagnosed the extent of the crisis, made proposals, fought for European policies and at the same time struggled to restore our credibility and to strengthen Greece's voice," the Greek premier said in a statement.

He said the systematic effort had paid off and Greece was once more seen as credible by its European partners.

"We knew that the crisis in our country had its basic roots and causes in viewpoints and practices that had to be changed. And we are doing this. We are changing Greece," he added.

According to Papandreou, the Greek government had managed to convince its European partners that the economic problem was not confined to Greece but also a matter of supporting and coordinating policies on a European level.

As a result, a support mechanism had been set up that now acted as a shield and allowed Greece the time to carry out the necessary changes that would allow the country to eventually stand on its own feet and emerge from the crisis.

According to the Greek premier, the crisis was a painful experience but one that could also act as an opportunity, both for Greece and for the European Union.

Concerning the idea of issuing eurobonds, the premier pointed out that this was a Greek proposal that had also been repeated and adopted by others and he expressed satisfaction that a dialogue was now underway in Europe on this issue.

He said that this discussion in Europe was "a challenge for further deepening cooperation and coordination between the members and institutions of the EU".