HIGHLIGHTS-Greek PM says will tap IMF/EU aid if needed

ATHENS, April 16 (BestGrowthStock) – An EU/IMF aid mechanism will be
activated depending on Greece’s interests, Greek Prime Minister
George Papandreou told parliament on Friday, adding that the
involvement of the International Monetary Fund did not mean that
the country was bankrupt.
Here are highlights from his statement:


“The EU’s decision to create such a mechanism implies the
acknowledgement, in principle, that this is not just our
problem. But it certainly creates a safety net for Greece.”


“On March 25 the EU unanimously decided to support us. Does
that mean that the job is over? No, we have to make the
necessary, great changes.”


“True, the measures hurt, but think of what would have
happened if we had entered a state of bankruptcy, and if we had
not been able to borrow.

“We showed our will to put the country back in order. My
reflexes were patriotic because the country was sinking. If the
country had gone down, it wouldn’t have hurt the rich, it would
have primarily hurt the average Greek and the weak.

“My socialist reflexes were to save the country from


“Today, there is a (support) mechanism where before there
was nothing. It is a safe harbour for the country from the
speculation in markets and a concrete manifestation of support
by the European Union.”


“It is a success for Greece that such a mechanism has been
set up. Could it (mechanism) have been more European? Yes it
could have been. The involvement of the IMF resulted from an EU
decision and the insistence of certain interests, the
conservative European Popular Party.

“The IMF has a minority stake in that mechanism but it also
participates as an organisation which has funds and experience
in creating such support schemes.

“The IMF is already involved in this process, even today. It
is in the process of monitoring Greece.”


“The IMF’s involvement does not mean that the country is
bankrupt. It means that it can raise money from there as well, a
loan, but it also means that the stability programme, the terms
… go through the IMF.”


“The activation of the EU/IMF mechanism will be decided
based on the country’s interest … and we are making all the
preparatory actions as required.”
Stock Market

(Reporting by Harry Papachristou, George Georgiopoulos, Renee
Maltezou; compiled by Ingrid Melander)

HIGHLIGHTS-Greek PM says will tap IMF/EU aid if needed