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Interview of FM Droutsas on German station “N-TV”

Tuesday, 09 November 2010

Journalist: We have the opportunity to speak with the Greek Foreign Minister, who is in Berlin. Mr. Droutsas, not just Ireland, Greece as well has problems that had been hidden for a long time. The high level of debt, on the other hand, is behind the turbulences felt throughout the euro area. Do you feel guilty about that?

Mr. Droutsas: Good morning from Berlin. Greece has to address the crisis but I believe that Greece and our government have implemented a very strong and reliable package of measures over the past twelve months, and that the results are already visible. We are on a good track, but we are still halfway. We know that there are other things that must be done. The most important thing is that we have followed the right track, a reliable track, and I believe that this is recognized by all our partners in the EU and by the entire international community.

Journalist: You say that you are halfway. The new Stability Pact on the euro area should be ready by 2011 and it provides for tough sanctions on countries with a budget deficit. Is Greece also threatened by such sanctions? Do you consider it reasonable?

Mr. Droutsas: First of all, it is important to create a truly reliable, European support mechanism. The discussion is ongoing at the moment. The most important thing is to send a reliable message to the world’s markets that euro area countries support each other, that the euro has the necessary support even at times of crisis. I repeat it is important to create a reliable, efficient mechanism. Discussion are ongoing and we should focus our attention on them.

Journalist: Thank you very much.

Mr. Droutsas: Thank you.