Jun
12

Papandreou Says Greece Will Stay in Eurozone

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On Europe’s crisis:

“In Europe we let things linger…we have to move in to for example a banking union, with a common insurance for a credit, a fund for recap of banks and restructuring banks, we have to move into fiscal union for monitoring fiscal responsibility of each country, we have to move into economic union for more tax harmonization, a social union where we should have a common policy on employment as far as benefits are concerned. For example, I’ve been an advocate of a European voucher where a young unemployed person can take it from Greece and go to Germany, somewhere else, to any school or training center, and to eventually employment. We need a more democratic Europe, too. This has to be a citizens project, not just a project of economic or political elite.”

On how severe capital flight is from Greek banks:

“That’s been one of the problems, that combined with the banking system not only in Greece but in Europe has been somewhat worried over the last three four years to lend out—worried about their accounts to hold on to what they have has not been conducive to growth. It’s getting worse.”

On whether Germany is standing in the way:

“I wouldn’t say Germany is standing in the way. I think Germany is right now at a point where it is doing well, feeling quite confident, its economy is booming, it went through ten years of change.”

On whether Alexis Tsipras is dangerous:

“I would take his words with a grain of salt and would say that what he would do if he’s part of a coalition or even if he is No. 1 party, we would have to see once he is in government. My hope would be that whoever is in government acts responsibly, honors a very difficult negotiation we had over last two years where we came out with the biggest bailout program in history, the biggest haircut also in mankind’s history with a tough program of adjustment.”

On whether the personal costs were worth it to serve Greece:

“I think it’s worth it. I believe in politics we are not permanent fixtures in power, either we serve countries in best of ways and that could be a personal cost or I would not want to be in politics, I’d be on a Greek island enjoying myself. I felt this is what I had to do for my country.”

On whether he’s transferring his own money out of Greek banks:

“No I’m not. I’m voting for Greece, not that I have a lot of money, anyway.”

From a transcript by Bloomberg TV.

Article source: http://www.advisorone.com/2012/06/11/papandreou-says-greece-will-stay-in-eurozone

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ΓΙΩΡΓΟΣ ΠΑΠΑΝΔΡΕΟΥ ΠΑΣΟΚ ΠΑΠΑΝΔΡΕΟΥ PASOK GIORGOS PAPANDREOU PAPANDREOU ΓΑΠ