New Package of Measures Announced


Monday, 01 March 2010 15:15

Greek Finance Minister Giorgos Papakonstantinou announced a new package of measures so that Greece can lift its fiscal impasse, following his meeting with EU Commissioner for Monetary Affairs Olli Rehn. In the meantime, Prime Minister George Papandreou requested the people of Greece join the government’s efforts, arguing “We are noting going to let the country sink.” Olli Rehn, who is being escorted by a member of the European Central Bank, had consecutive meeting with the Greek Finance Minister. He is currently meeting with the Prime Minister. After their meeting, he will give a press conference.

Announcing a new package of measures is just a matter of time, with the Prime Minister stating that the government is willing to give its answer to the crisis the country is experiencing.

“… We are asking the people of Greece to join the efforts to save our country and the overwhelming majority of the citizens are willing to do so…”

George Papandreou

“Our country is living through a really deep crisis. You are all aware of that. As I have repeated several times, the crisis in Greece is not reduced to our fiscal problem. This is just the tip of the iceberg. However, addressing it is an emergency, because it has assumed mammoth dimensions, as it is menacing to strip us of our ability to be the ones to determine our fate. And we will do so,” stressed Papandreou while addressing the cabinet. He then urged the people of Greece to join the campaign to save the country.

“We are asking the people of Greece to join the efforts to save our country and the overwhelming majority of the citizens are willing to do so. Despite the cost, despite the burden, everyone says ‘yes’. The Greeks who do not evade by hiding their incomes are ready to contribute to the salvation of our country.

In the meantime, EU Commissioner Olli Rehn who is visiting Greece requested additional measures.

It is the risk of the stability plan that makes the taking of additional measures an imperative, commented Olli Rehn after meeting with Giorgos Papakonstantinou. He recognized though that the fiscal and structural measures that have already been taken are being implemented.

After urging the Greek authorities to announce additional measures in the coming days, Rehn stressed that the efforts will be painstaking, yet trimming both its deficit and debt is necessary and it will help to improve economy.

“The government will do whatever it takes, including taking additional measures, so that the goal set by the stability plan can be met,” assured the Greek Finance Minister.

Meeting with Katseli

Olli Rehn met with Economy Minister Louka Katseli and discussed measures capable of enhancing the market and thawing economy.

Katseli briefed Rehn on her Ministry’s key policies.

“Fiscal consolidation goes hand by hand with growth and competitiveness,” stressed Katseli. She then argued that there will be closer cooperation with the European Commission.