Papademos: Staying in the euro is a financial stability factor

“I accepted the President’s mandate after the proposal by political leaders to form a government of national cooperation because I believe that we should all contribute to addressing the crisis and economic recovery”, stated the new PM, Mr. Lucas Papademos.

In an absolutely clear manner, Mr. Papademos described the situation in the Greek economy, expressed his belief that the people will overcome the problems if they try to do so with unity, wisdom and consensus and underlined that he did not set any preconditions to the political leaders in terms of creating a transitional coalition government.

However, as the new PM explained: “there is no precisely determined time for elections”. It is assumed that the date of February 19th is no longer valid. That’s because in today’s political leaders' meeting, it was stated that “the new government’s task is the implementation of the decisions taken in the Eurozone summit on the 26th of October 2011, and the implementation of the economic policy related to these decisions”.

“The price is great and the responsibility that I am taking on is greater. I am not a politician, but I have devoted my life to the pursuit of economic policy both in Greece and Europe”, stated Mr. Papademos.

“The Greek economy is still facing problems. Greece is at a crossroads. The choices that will be made for its progress will not be easy”, warned the new PM and added: “But I am certain that the problems will be solved”.

He even described the conditions for exiting the current plight: “If there is responsibility, consensus and caution, if we all work together”, he stated, adding that “it is important to form a government of national cooperation. The new government is transitional. It has a specific task to perform”.

Mr. Papademos stressed that he is “convinced that the country’s participation in the Eurozone is a prerequisite for fiscal stability”, urging all Greeks “to be optimistic about the final result if we are united, determined and closely work together”.

The new PM sought to dispel rumours that he would not agree to being placed at the helm of the government due to objections or terms he had expressed to the two big parties: “I want to clarify that there were no terms set towards anyone”, he stated, and ended his statements outside the main gate of the Presidential Palace, also stressing that there is no exact date set for elections.