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Athens News Agency: News in English, 08-10-12

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] PM satisfied with Eurozone summit

  • [01] PM satisfied with Eurozone summit

    Prime Minister Costas Karamanlis reiterated here on Sunday that the European Union will take all necessary measures to protect its citizens from the repercussions of the ongoing international credit crisis, speaking immediately after an extraordinary summit of Euro zone leaders in the French capital.

    Among others, Karamanlis underlined that Euro zone countries will ensure the necessary liquidity and capital to keep the banking system healthy, not just in the short-term but in the long-term future as well.

    Conversely, stiffer accounting rules will be laid down for the operation of the entire banking system.

    "Restoration of markets' smooth operation, however, is a persistent matter that necessitates dedication towards the final goal," he said in a brief televised address.

    "Greece, particularly over the last 30 days of the crisis, has exhibited reflexes that were much better than many other countries around the world. From the first moment I stated that the government will guarantee the financial market's stability and citizens' deposits. Over the past month, we have developed a comprehensive plan to boost liquidity and capital, a plan that guarantees the Greek banking system; a plan that benefits Greek citizens," the Greek premier said from Paris.

    Moreover, Karamanlis appeared reassuring, noting that the IMF continues to foresee growth in Greece hovering at 2 percent, when zero growth is projected for the rest of the Euro zone countries.

    "We continue to have our attention turned to the real economy, which guarantees the income of every Greek wage-earner, which supports our country's social fabric," he added.

    Karamanlis stressed that the Greek economy was "holding", and that Greek citizens have nothing to fear, as the crisis has not adversely affected the east Mediterranean nation because of his government's economic policies over the past four years.

    The summit was called by the current French EU presidency and hosted by French President Nicolas Sarkozy.

    Caption: French President Nicolas Sarkozy (R) greets Greek prime minister Costas Karamanlis (L) at his arrival at Elysee Palace, in Paris, France, 12 October 2008. President Nicolas Sarkozy organizes a summit with European leaders at Elysee Palace to talk about the ongoing financial crisis. ANA-MPA/ EPA/YOAN VALAT

    Athens News Agency: News in English Directory - Previous Article - Next Article
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