Venizelos with Lagarde and Geithner

Deputy prime minister and finance minister Evangelos Venizelos had contacts with high ranking officials in Washington on Monday, with the climate indicating a positive attitude, both on the part of the U.S. and the IMF, towards assistance in the solution given for the Greek debt during the recent Eurozone summit.

Among others, Venizelos met with his American counterpart, Timothy Geithner. They discussed international data emerging on the issues of the budget and financial situation in the U.S. and of course, the crisis in Greece. They also discussed aspects of the latest decision of the Eurozone Summit on21.07, and of the U.S. government’s will to help through the IMF and on a bilateral level.

After the meeting with his American counterpart, Venizelos met with IMF General Director, Christine Lagarde. After the end of the meeting, he made the following statement:

“We had a very interesting and long meeting with Lagarde and her staff. The attitude of the IMF is very positive, but of course everything depends on us. Everything depends on our ability to implement the program and record specific results. If we apply the program and present results, the IMF and the international community will support and keep on supporting Greece until it restores its financial sovereignty and independence, until it conqueres the position corresponding to the history and capabilities of the Greek nation. In this sense, the meeting was very upbeat and supportive.”

Successive meetings from early on

The marathon of meetings of the finance minister in Washington had started early in the morning from the headquarters of the IMF where, accompanied by the Greek representative Professor Panagiotis Roumeliotis, Venizelos met the Executive Directors of the Fund representing the D.R. of China (Luo), Italy (Sadun), France (Fayolle) and the U.S. (Rediker).

Subsequently, he met with the Executive Director of the International Association of Banks (IIF), Charles Dallara. The discussion focused on the initiation of the decisions of the Eurozone Summit on July 21 and on the form of private sector participation in the program for the sustainability of Greek public debt. This process is now under the control of the Greek Republic and the first meeting on an international level will take place on Thursday, July 28 in Athens.

Dallara asked Venizelos to give a short speech at a meeting of international agency staff who participated in a seminar on developments in Greece. In his speech, the minister referred to the asymmetric threats of rating agencies and the decision of the Eurozone Summit, in conjunction with the Greek government's determination to proceed with implementing the necessary measures without delay.

“The protection and viability of the Greek public debt is a measure of self-protection for the Euro as an international and common European currency, but for the Eurozone too, as an economic and political entity”, he said.

We need the support and commitment of the IMF, we need full implementation of the PSI on the very ambitious level of 90%, Venizelos added, concluding that: “All of us here - the IMF, IIF, the U.S. government, the European Union, the ECB - must send a clear and powerful message: We have a program, we believe in its application and prospects and we will achieve our common goals. Greece is an attractive case of reconstruction, hope and optimism of an historic nation.”