Sunday October 26, 2014 Search
Weather | Athens
19o C
12o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Barroso says no room for change to Greek bailout terms

The head of the European Commission said Wednesday there was «no way» of changing the terms of a 130-billion-euro bailout agreed with Greece, as Athens prepares to return to the polls.

"There is no way of changing the commitments taken by Greece and also by the other 16 euro area member states,» said Jose Manuel Barroso as he outlined a new push for growth across the eurozone in the wake of telephone talks with new French President Francois Hollande.

As official news in Athens pegged June 17 as the date for a repeat election, 10 days after voters gave a majority to anti-austerity parties, Barroso said it was «important not only for the credibility of Greece but also for the credibility of the euro area that agreements are stuck to."

He added: «It is possible to work with the Greek authorities on measures to enhance growth.

"But frankly, it will not improve the situation of Greece or the euro area in general if the message is that we do not stick to our commitments."

Barroso underlined: «We will of course fully respect the decision taken by the Greek people.

"But the Greek people should be aware that there are another 16 democracies in the euro area -- and that the democratic decisions taken by the euro area should also be taken into account.

"We want Greece to remain part of the family, of the EU and the eurozone.

"But the ultimate resolve to stay in the euro area must come from Greece itself,» Barroso said.

Barroso joins European Union leaders for an informal summit in Brussels on Wednesday, after a G8 summit in the United States also involving Hollande, German Chancellor Angela Merkel, Italian Prime Minister Mario Monti and non-euro British counterpart David Cameron.

He said Wednesday's talks gave an opportunity to widen the EU's growth agenda ahead of formal decisions at a June 28-29 summit, calling for «targeted investment» alongside «sound public finances and deep structural investment."

He particularly urged leaders to agree on a 10-billion-euro capital injection into the European Investment Bank, aimed at boosting lending to small and medium-sized enterprises and therefore employment.

A day after Austria and Luxembourg blocked plans to target unpaid tax hidden in accounts in Switzerland and elsewhere, Barroso said the Commission also needs a «mandate» to proceed in efforts worth «billions and billions» all of which can be used to «kickstart growth."

He said he had a «long conversation» with Hollande which would see them work together on these aims, beginning before the G8 discussions on Friday and Saturday.

Barroso said the EU needs decisions quickly on these and other ideas including an improved EU budget and re-directing unallocated EU funds -- rather than returning them to contributing states -- in order to boost confidence.

However, he reiterated that even with the new triple-pronged approach he advocated -- investment as well as austerity and reforms -- Greece could not re-negotiate the terms agreed with the EU and the International Monetary Fund in March.

[AFP]

ekathimerini.com , Wednesday May 16, 2012 (17:07)  
Samaras pledges action after flash floods in Athens
No court hearings for civil cases
Greece’s lenders seem adamant that gov’t must act on bailout commitments
Future of Attica trash set to become clearer
Nicosia says reforms are bringing results
Economic reforms in Cyprus are starting to yield results, the government said on Saturday after one credit-rating agency upgraded its rating and a second its outlook for the bailed-out count...
TAIPED waits for green light from Eurostat
Eurostat has frozen the securitization of properties that the Hellenic Republic Asset Development Fund (TAIPED) had been planning. The project, drafted to bring some 400 million euros into t...
Inside Business
BASKETBALL
A win is a win is a win for Olympiakos
A bad Olympiakos defeated a worse Laboral Kutxa 63-57 to make it two out of two in the Euroleague on Friday. In a game where the two teams had an overall field goal rate of about one in thre...
SOCCER
Panathinaikos snatches point at Eindhoven
Panathinaikos offered its fans a glimpse of its glorious past in European competitions snatching a draw at PSV Eindhoven, on an otherwise bad night for Greek soccer in the Europa League, as ...
Inside Sports
COMMENTARY
End of reason, end of humanity
The effects of a slew of new and increased taxes introduced since the start of the crisis were first observed in the wages of those still fortunate enough to have jobs, who saw their take-ho...
EDITORIAL
Banks need to step up
What has been leaked so far regarding the results of the stress tests on Greece’s lenders, which are due to be published on Sunday, appears positive. Greece needs a healthy, private banking ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Nicosia says reforms are bringing results
2. Samaras pledges action after flash floods in Athens
3. No court hearings for civil cases
4. Greece’s lenders seem adamant that gov’t must act on bailout commitments
5. Future of Attica trash set to become clearer
6. Policeman admits to murder of his cousin-in-law
more news
Today
This Week
1. End of reason, end of humanity
2. Banks need to step up
3. Samaras pledges action after flash floods in Athens
4. Greece’s lenders seem adamant that gov’t must act on bailout commitments
5. Nicosia says reforms are bringing results
6. No court hearings for civil cases
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Greece’s closed society is central to its current malaise
3. Greece must stick to reforms, says Schaeuble
4. At least 11 banks to fail European stress tests, three in Greece, report says
5. Cyprus to block Turkey's EU talks after EEZ violation
6. Stop moaning and get in the game
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.