Greece’s Prime Minister George Papandreou said in his annual speech on the economy on Sunday that no new measures are needed as he is convinced the government will achieve its target of reducing the deficit by 40 percent to 8.1 percent of GDP.
No extra measures will be needed, he said, to restore Greece’s finances beyond the 110 billion euro (almost US$140 billion) supplied by the EU and IMF, Kathimerini.gr report.
In May, the Greek government agreed to measures to cut wages and pensions and increase taxes. The measures led to a number of protests, some violent, in the country.
At the press conference at the 75th Thessaloniki International Fair, Papandreou was convinced that the commitments from last year would reach their desired results. He said that as long as the progress continued, no new measures would be needed.
Papandreou said maybe some mistakes were made, but his government did not make the mistake of doing nothing. Recognizing the crisis he said the slogan of today is “change Greece or condemn Greece.”
He announced that a reduction in corporate taxes to 20 percent would create new jobs.
To prevent risking another blow to the credibility of his country’s economic recovery, the prime minister denied rumors of debt restructuring.
“There is no debate,” he said. He showed confidence that the markets will be gradually convinced of Greece’s progress.
No extra measures will be needed, he said, to restore Greece’s finances beyond the 110 billion euro (almost US$140 billion) supplied by the EU and IMF, Kathimerini.gr report.
In May, the Greek government agreed to measures to cut wages and pensions and increase taxes. The measures led to a number of protests, some violent, in the country.
At the press conference at the 75th Thessaloniki International Fair, Papandreou was convinced that the commitments from last year would reach their desired results. He said that as long as the progress continued, no new measures would be needed.
Papandreou said maybe some mistakes were made, but his government did not make the mistake of doing nothing. Recognizing the crisis he said the slogan of today is “change Greece or condemn Greece.”
He announced that a reduction in corporate taxes to 20 percent would create new jobs.
To prevent risking another blow to the credibility of his country’s economic recovery, the prime minister denied rumors of debt restructuring.
“There is no debate,” he said. He showed confidence that the markets will be gradually convinced of Greece’s progress.
