Open

Coming up

Don't miss

Replay


LATEST SHOWS

FOCUS

Bangladesh: Textile workers' lives still at risk?

Read more

TALKING EUROPE

José Bové, Candidate for the EU Commission presidency, Group of the Greens

Read more

WEB NEWS

NYPD's online campaign backfires

Read more

ENCORE!

Celebrating the Bard's birthday in Britain

Read more

THE INTERVIEW

Yuki Tatsumi, Senior Associate of the East Asia Program, Stimson Center

Read more

INSIDE THE AMERICAS

USA: Executions halted over drugs secrecy

Read more

IN THE PAPERS

An overly optimistic plan?

Read more

IN THE PAPERS

#NYPD Fail

Read more

BUSINESS DAILY

Soaring iPhone sales in China boost Apple earnings

Read more

  • Russia orders military drills as Ukraine moves on separatists

    Read more

  • Israel halts Middle East peace talks over Hamas deal

    Read more

  • Afghan guard kills US doctors in Kabul hospital attack

    Read more

  • Platini: PSG in danger over Financial Fair Play rules

    Read more

  • Ségolène Royal denies banning cleavage at French ministry

    Read more

  • Palestinian unity deal stirs anger in Israel

    Read more

  • Video: Mayor in east Ukraine ready ‘to turn Slaviansk into battlefield’

    Read more

  • US would defend Japan in islands dispute, Obama says

    Read more

  • New far-right mayor moves to quash Paris region mosque

    Read more

  • US soldiers arrive in Poland as Ukraine crisis continues

    Read more

  • Fatah, Hamas agree to form Palestinian unity government

    Read more

  • Millions of Syrians desperately need aid, says UN

    Read more

  • Muslims in CAR pray for an escape route

    Read more

  • Madrid beat Bayern 1-0 in first leg of Champions League semis

    Read more

  • Britain's ex-PM Blair warns against spread of radical Islam

    Read more

  • Turkish PM offers condolences to descendants of Armenians killed in 1915

    Read more

  • Gay marriage, one year on: ‘French civilisation did not crumble’

    Read more

  • Colombian president reinstates firebrand Bogota mayor

    Read more

  • NYPD public relations campaign on Twitter goes awry

    Read more

  • In pictures: Violent protests erupt in Rio

    Read more

Europe

EU head Barroso applauds Greek bailout plan

©

Video by Kattalin LANDABURU

Latest update : 2010-05-02

In an interview with France 24 Sunday, José Manuel Barroso, president of the European Commission, said Greece had presented all the necessary conditions to activate a bailout package, and that difficult austerity measures were unavoidable.

What is your reaction to Greece’s acceptance of a joint EU-IMF bailout package?

 
José Manuel Barroso: Greece has presented a solid and credible programme. I've just spoken to Prime Minister Papandreou on the phone to congratulate him on his brave decision. I think it's the only way Greece can rebuild confidence in the stability of its economy, and it's also the best way for the prosperity of the Greek people. The commission believes that the conditions have now been fulfilled to activate the European coordination mechanism for financial aid for Greece. We also want it make it clear that Greece's needs will have a positive and timely response.
 
Do you think that once this plan is in place it will reassure the markets and prevent contagion to Portugal and Spain?
 
J.M.B.: We think so, because Greece is the most difficult case, and now the other euro zone countries must show their determination to confront this situation. The other cases you mentioned are really different, and anyway their governments, like the Portuguese government for example, have already announced credible measures. That's why we think this is the best response to the situation.
 
The austerity measures imposed on Greece are difficult and Greeks have taken to the streets. Do you think these measures are realistic?
 
J.M.B.: It's Greece that adopted these measures, the Greek government adopted them, nobody forced measures on Greece. The Greek government made a request of Europe and of the International Monetary Fund, who are able to offer help on the basis of measures Greece has taken itself. They're necessary to re-establish confidence in Greece. Of course, we know they're tough, but there's really no alternative. A country can't always live beyond its means, so we have to take measures to ensure the prosperity of the Greek people.
 
German Chancellor Angela Merkel has spoken of toughening the rules to create a mechanism to exclude a member from the euro zone. Do you favour such a measure?
 
J.M.B.: What we need to do now is enforce the stability pact as it exists. Of course we can always reinforce it, and we want the stability and growth pact to be credible. We're going to make concrete propositions this month to reinforce the stability pact as it is, but I'm not going to speculate on other measures that would involve re-negotiating treaties.

 

Date created : 2010-05-02

Comments

COMMENT(S)