Wednesday April13, 2011 |English.news.cn
ATHENS, April 12 (Xinhua) -- European Council President Herman van Rompuy on Tuesday turned down Greek debt restructure scenarios, strongly supporting the Greek government's exit plan from the crisis through austerity and structural reform measures.
"The prospect of a restructure of the Greek debt is out of question,"stressed van Rompuy during a joint press conference after talks with Greek Prime Minister George Papandreou during his visit here.
Greece should focus on efforts to slash a budget deficit which stood at 15.4 percent of GDP in 2009 to less than three percent of GDP in 2013 through the pledged "courageous" policies and bold privatization program, he added.
There is only a one way painful, but necessary road to overcome the current debt crisis and return to growth was the common message sent by the European Council head and the Greek premier who repeated confidence to continue on this path until success. "Greek peoples' sacrifices bear fruit," stressed Papandreou, expressing determination to step up efforts.
Greece narrowly escaped default last May aided by a multi- billion support package of European Union and International Monetary Fund in exchange of harsh measures.
After a positive start, the Greek Stability and Growth program lags in revenue collection mainly due to widespread tax evasion and some targets have not been fully met.
Therefore, this Friday the government is expected to announce the framework of a new package of measures through more cutbacks on public expenses and tax hikes.
The aim is to raise 23 billion euros (about 33.19 billion U.S. dollars) during 2012-2014, Greek Finance Minister George Papaconstantinou said Tuesday in a Greek parliamentary committee.
Greece seeks a further 50 billion euros (about 72.14 billion U. S. dollars) through a privatization of state-run companies and better management of real estates plan. The government is due to give more details regarding this program also Friday.
The austerity drive and reforms have been met with strong reactions by a part of Greek society over the past year which argues that the burden is unbearable for the weaker social groups.
During talks with Greek President Karolos Papoulias van Rompuy acknowledged the potential impact on social cohesion, while Papoulias thanked him for his support to Greece.
Amidst the upheaval in Arab countries of the Mediterranean Sea, the European Council president and the Greek premier also called on European partners to promote advanced cooperation with these neighboring countries to face the influx of illegal migrants.
Editor: Mu Xuequan By Xinhua
"The prospect of a restructure of the Greek debt is out of question,"stressed van Rompuy during a joint press conference after talks with Greek Prime Minister George Papandreou during his visit here.
Greece should focus on efforts to slash a budget deficit which stood at 15.4 percent of GDP in 2009 to less than three percent of GDP in 2013 through the pledged "courageous" policies and bold privatization program, he added.
There is only a one way painful, but necessary road to overcome the current debt crisis and return to growth was the common message sent by the European Council head and the Greek premier who repeated confidence to continue on this path until success. "Greek peoples' sacrifices bear fruit," stressed Papandreou, expressing determination to step up efforts.
Greece narrowly escaped default last May aided by a multi- billion support package of European Union and International Monetary Fund in exchange of harsh measures.
After a positive start, the Greek Stability and Growth program lags in revenue collection mainly due to widespread tax evasion and some targets have not been fully met.
Therefore, this Friday the government is expected to announce the framework of a new package of measures through more cutbacks on public expenses and tax hikes.
The aim is to raise 23 billion euros (about 33.19 billion U.S. dollars) during 2012-2014, Greek Finance Minister George Papaconstantinou said Tuesday in a Greek parliamentary committee.
Greece seeks a further 50 billion euros (about 72.14 billion U. S. dollars) through a privatization of state-run companies and better management of real estates plan. The government is due to give more details regarding this program also Friday.
The austerity drive and reforms have been met with strong reactions by a part of Greek society over the past year which argues that the burden is unbearable for the weaker social groups.
During talks with Greek President Karolos Papoulias van Rompuy acknowledged the potential impact on social cohesion, while Papoulias thanked him for his support to Greece.
Amidst the upheaval in Arab countries of the Mediterranean Sea, the European Council president and the Greek premier also called on European partners to promote advanced cooperation with these neighboring countries to face the influx of illegal migrants.
Posts
No comments:
Post a Comment