I think the gains to be achieved by a combination of reforms and labor market adjustments are going to be more permanent and will provide a basis for reducing unemployment and improving expert performance and sustaining growth in a way that is more sound and more permanent.

Lucas Papademos

Categorized in : Thinking Sound Growth

The participation of our country in the eurozone is a guarantee for the country's monetary stability. It is a driver of financial prosperity.

Lucas Papademos

financial guarantees country

The ECB's interventions in sovereign bond markets should not be perceived or interpreted as a 'freebie' for governments. They are temporary.

Lucas Papademos

sovereign government should

My job will not be easy but I am convinced the problems will be solved in a quicker and more efficient way if there is unity and consensus.

Lucas Papademos

unity jobs way

I think achieving a higher fiscal stability is also a very important condition for restoring an environment which is conducive to growth...

Lucas Papademos

growth important thinking

Our eurozone partners have made it clear: The choice is between staying in or getting out of the eurozone.

Lucas Papademos

partners choices made

The financial crisis in our country is not a passing storm. Given the size of the problems, our national effort will not be completed in 2012. It will take many years and will require the efforts and insistence of several governments.

Lucas Papademos

government country years

More cuts were needed to avoid exiting the eurozone.

Lucas Papademos

eurozone cutting needed

Our membership of the euro is a guarantee of monetary stability and creates the right conditions for sustainable growth. Our membership of the euro is the only choice.

Lucas Papademos

growth choices guarantees

I take office during the most difficult moment in the country's recent history. The country can be saved - it's up to us. I think it is obvious for those who support this government to undertake the commitment and ensure that our country's euro membership is not endangered.

Lucas Papademos

country commitment thinking

I am not a politician but I have dedicated the biggest part of my professional life to economic policy both in Greece and Europe.

Lucas Papademos

economic politician europe

Dealing with Greece's problems will be more difficult if Greece is not a member of the eurozone.

Lucas Papademos

members difficult problem

I think it's often discussed that leaving the Euro is an option for Greece. I think this is really not an option.

Lucas Papademos

euro leaving thinking

And judging what is appropriate or not appropriate for a country, I think it is important in particular in judging what is the appropriate economic policy framework, one should take into account the overall political environment and the institutional framework within which economic policy operates.

Lucas Papademos

judging country thinking

Governments cannot assume or expect that the ECB will always facilitate their funding independently of the achievement of their fiscal and other policy objectives.

Lucas Papademos

assuming achievement government

Delays in granting of justice very often reduce the speed with which investment could be undertaken, discouraging investors.

Lucas Papademos

delay speed justice

In the 20 years before Greece end up with the Euro, efforts to improve competitiveness through exchange rate and adjustments resulted only in temporary gains of competitiveness.

Lucas Papademos

effort gains years

Greece is at a crucial crossroads. The choices that are made and the policies that are enforced will have a decisive impact on the wellbeing of Greeks. The way forward will not be easy but the problems can be solved, and will be solved, if there is unity, co-operation and consensus.

Lucas Papademos

way-forward impact choices

I think the funds that have been pledged at Euro Summit combined with the outcome of the private sector involvement process should be sufficient in order to support financially the Greek economy.

Lucas Papademos

support order thinking

I am personally convinced - and I think the Greek people share this belief in a fundamental way - that we can achieve fiscal consolidation more effectively and we can restore competitiveness in a more fundamental and permanent way within the euro area than outside.

Lucas Papademos

greek people thinking

I am convinced that the public, large majority of the Greek people, realize that policies pursued in the past and the market practices have to be changed, in order to improve the prospects of the Greek economy. So there is, I think, strong public support despite the increases in social tensions.

Lucas Papademos

strong past thinking