Hannes Swoboda: ‚Decision on Greece is good – for Greece and for Europe as a whole‘
Following the conclusion of the Eurogroup meeting last night, the S&D Group is satisfied with the agreement that was reached. Commenting on the outcome of the meeting, S&D Group President Hannes Swoboda said: „The joint decision from the Eurogroup, the ECB and the IMF is a good one, not only for Greece but for Europe as a whole.
„There has finally been a recognition that the interest rates paid by Greece were too high and that the time allowed to reduce the deficit is too short.
„However, the task of helping Greece and other countries in economic difficulties with policies for growth remains crucial.“
He concluded by discussing the long-term situation for Greece:
„Any decisions taken now will remain ineffective if we don’t see economic growth.
„Another ‚haircut‘ to reduce Greek debts, as discussed before this meeting, can only be avoided if Greece’s economy can rapidly get into a growth phase.
„Growth and a reduction in the soaring unemployment rate are vital to reduce the high ratio of debt to GDP.“