A Social Contract in the Making

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A Social Contract in the Making

Prime Minister Lucas Papademos, addressing a cabinet meeting yesterday, said that the Eurogroup agreement and the decisions reached at, in Brussels, are a "great step of decisive importance for Greece’s future," adding that they would significantly reduce uncertainty concerning the financial support to the country for the next three years.

He also expressed his belief that this will enhance public as well as market confidence for the prospects of the country and its ability to effectively implement the programme in order to achieve consolidation and economic recovery. He also noted that should all measures be enforced as foreseen, the country should start returning to growth from 2013.

Assessing the outcome of the Eurogroup meeting, during a press conference earlier on the day, Government Vice-President and Finance Minister Evangelos Venizelos said that "it proved wrong all those who invested in the country’s failure." He added however, that a new social contract is needed in Greek society; "in fact, what is required is a new national, social and development policy."

Meanwhile, New Democracy party leader Antonis Samaras, welcomed the latest EU/IMF rescue package for Greece but said its targets can only be met through economic growth.

Primeminister.gr: PM’s Introductory Statements [in Greek]; Finance Ministry: Press Conference [in Greek]

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