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PM Papandreou chairs informal cabinet meeting

Δημοσίευση 21 Δεκεμβρίου 2010, 11:51 / Ανανεώθηκε 27 Ιουνίου 2013, 14:55
PM Papandreou chairs informal cabinet meeting
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Prime Minister George Papandreou appeared optimistic that the repayment period for Greek loans will be extended while addressing the informal cabinet meeting on Monday. During his ministers unveiled their agenda for the upcoming period, as requested in a letter signed by the premier.

Prime Minister George Papandreou appeared optimistic that the repayment period for Greek loans will be extended while addressing the informal cabinet meeting on Monday. During his ministers unveiled their agenda for the upcoming period, as requested in a letter signed by the premier.

According to sources, Papandreou said that the first major legislation to be sponsored by the government will be the new investment law, while he put an emphasis on developments in Europe, stressing that Greece should be present and have voice.

He also underlined that the government ministries should act in coordination and MPs should have an active participation in the preparation of draft laws.

The prime minister said that the possibility of an extension for the repayment of the loan for 110 billion euros was positive for the country. He mentioned that he discussed this issue at last week's European Union summit and ascertained that "all are positive" on this possibility.

However, Papandreou expressed reservations on the summit's decision as well as on the eurobond issue. The prime minister termed the EU's decision and the support mechanism a big step but stressed that he himself is not "absolutely sure that it will also be adequate for the eurozone to be stabilised."

On the question of the eurobond and the view supported by many EU officials that this will come inevitably sooner or later, he pointed out that he is not so sure about this because, as he said, "there are resistances from certain countries that want to pass along the problem and not to assume their political responsibilities.

Papandreou attacked credit rating firms saying that it is they that graded the banks with 3A and which finally collapsed. He underlined as a major problem the fact that the rating of these firms has immediate consequences for the banking system, considering that the problem would be greater without the intervention of the European Central Bank.