Greek FinMin: “More measures are needed!”

“We are experiencing a total public deficit derailment” said the Greek finance minister, Evangelos Venizelos, in parliament in an effort to describe the tragic moments the country is going through. Shortly before the announcement of further and harsher measures and a while before the meeting of the government committee, Venizelos underlined that “the complete implementation of the measures as agreed upon with the Troika is necessary so that the people’s sacrifices do not go to waste”.

Furthermore, he announced that there are extra measures on the way as the ones already taken concern the period until 2013, whereas the new ones will also cover the time until 2014.

The real economy has to be reinforced, he said, estimating at the same time that the country must avoid bankruptcy at any cost. Most importantly, the FinMin reassured all that the Greek banking system is safe and guaranteed that the problem of the country will be solved under the auspices and in the framework of the Eurozone.

From now on, the main thing is to see what will come out of the Venizelos trip to Washington at the coming weekend where he will participate in the annual IMF summit and is expected to have private meetings with Lagarde, Rehn and Trichet.

The Troika representatives are to return to Athens early next week in order to come to a final agreement about the austerity measures, so that Greece can safeguard the 6th installment.
 

Translated by Lida Filippakis