Friday April 18, 2014 Search
Weather | Athens
15o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Danger of euro exit still real, Kouvelis warns

Greece has not fully escaped the danger of leaving the euro area, the Democratic Left leader said in an interview on Sunday, while urging faster reforms to remedy the debt-wracked nation's structural deficits.

In comments made to Skai television channel on Sunday, Fotis Kouvelis, the boss of the third biggest party in Greece's power-sharing coalition, warned against any more horizontal cuts in the recession-hit country, while criticizing austerity measures passed by the previous administrations as “uneven, unfair, unbearable and counter-productive.”

The moderate leftist leader instead called for policies aimed at boosting growth and curbing unemployment. He also urged measures to crack down on tax dodging, corruption and the black market.

Greece, currently in its fifth year of recession, depends on financial aid from the European Union and the International Monetary Fund which have imposed budget cuts that have caused a wave of corporate closures and triggered job losses. Unemployment hit 22.5 percent in April.

Kouvelis told Skai Greece needed to renegotiate the terms of its bailout program and seek an extension of the fiscal adjustment period. But any modifications, he said, must be pushed through contacts with the governments of Greece's EU peers and not through the troika of creditors, which he dubbed a “mediator institution.”

But on Saturday, German Foreign Minister Guido Westerwelle ruled out any renegotation of Greece's budget austerity program.

“I see desires emerging in Greece to renegotiate and substantially question the country's obligations to carry out reforms. I have to say simply, that will not do. It is a Rubicon that we are not going to cross,” Westerwelle told German daily Bild.

Troika inspectors are expected in Athens this week for another in-depth inspection of the new government's economic program.

ekathimerini.com , Sunday Jul 22, 2012 (11:58)  
Greece offers to help find Turkish F-16 lost in 1996
Talks lined up in wake of ‘shameful’ soccer scenes
Dimou quits To Potami over Holy Fire quip
Government looks to kick on
PPC to issue corporate bond of 500 mln
Public Power Corporation is planning to tap the markets after Easter with the issue of a corporate bond to draw 500 million euros. The Energy Ministry is also eagerly awaiting the issue, as ...
Primary surplus continued by end-March
The budget’s cash results for the first three months of the year pointed to a primary surplus of 771 million euros, according to data published on Thursday by the Bank of Greece. When revenu...
Inside Business
BASKETBALL
Former Red Bourousis wrecks Olympiakos´s hopes for a break
Olympiakos tried harder in Game 2 of the Euroleague play-offs in Spain, and Real Madrid was not as good on Thursday as in Game 1, but the Spaniards still emerged victorious on the night with...
SOCCER
Greek soccer turns fishier than ever
Soccer in Greece reached new lows in scenes unseen since the national team’s triumph in Euro 2004, as PAOK and Olympiakos served up a cup semifinal with PAOK emerging as the winner and the s...
Inside Sports
COMMENTARY
The placebo effect and the economy
Among the greatest mistakes made in the years of Greece’s hard landing is that citizens did not get the chance to sense that aside from austerity and pain the economic adjustment program als...
COMMENTARY
Ukraine is a crisis—but not a Cold War
Given Russia’s annexation of Crimea, the imposition of US and European sanctions, and the potential for more escalation in Ukraine, we are witnessing the most important geopolitical events s...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Former Red Bourousis wrecks Olympiakos´s hopes for a break
2. PPC to issue corporate bond of 500 mln
3. Greece offers to help find Turkish F-16 lost in 1996
4. Primary surplus continued by end-March
5. Eurobank eyes top Core Tier 1 level in Greece
6. Tourist spending up 17.3 pct
more news
Today
This Week
1. Greece startup leaders say they can’t break jobless cycle alone
2. Ground-breaking Good Friday mass signals thaw in Cyprus
3. Mayoral candidates clash over Athens mosque plans
4. Seven arrested over Toumba violence
5. Greek current account deficit widens in February
6. National Bank of Greece plans senior unsecured bond sale
Today
This Week
1. Bomb explodes outside Bank of Greece
2. CCTV footage from Nigrita Prison shows signs of inmate torture [Video]
3. Samaras sees no need for third bailout
4. Car bomb explodes outside Greek Central Bank building, no one hurt [Update]
5. Parties start announcing candidates for European Parliament elections
6. Greece's market return mirrors return of tourists
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.