ND leader warns of dangers of economy

New Democracy leader Antonis Samaras made a fresh effort this weekend to convince European leaders that his party has a more constructive approach to Greece?s debt crisis than the PASOK government.

Samaras was attending a meeting of the European People?s Party (EPP), being held on the sidelines of the European Union leaders? summit in Brussels. In a speech to the EPP, the group representing center-right parties in the European Parliament, Samaras reiterated his belief that more emphasis needs to be given to kickstarting the Greek economy.

Samaras favors lower taxation and more incentives for business, but he also warned that a bigger haircut of Greek debt than previously planned hid some ?major dangers? for Greece, especially as the country?s pension funds hold some 25 billion euros in bonds.

?Apart from the haircut, the viability of Greek debt requires strong growth rates and big and continuous primary surpluses,? said Samaras. ?That is why we need to restart the Greek economy.?

New Democracy sources told Sunday?s Kathimerini that the party will put more emphasis on assuring European counterparts that it would not be a barrier to fiscal reform should it come to power. The conservatives feel they have been unjustly portrayed in the international media as being an obstacle to Greece applying its austerity program.

However, Samaras will also make it clear that he is not willing to participate in a national unity government should, as many expect, Prime Minister George Papandreou make such a suggestion in the weeks to come.

ND will instead insist on snap elections, which it hopes it can win, possibly after more than one round of voting.