Wednesday Jul 30, 2014 Search
Weather | Athens
32o C
25o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Italian PM: Greece will likely stay in euro

 But, Monti says, country has lost ita sovereignty under IMF

Greece will probably remain in the euro zone, Italian Prime Minister Mario Monti said on Thursday, but demands made of Greece by its partners had been unrealistic and far reaching economic reform could take decades to achieve.

"Anything can happen, but I think the most probable outcome is the one which is most positive for Greece and for all of us, Monti said on an Italian television talk show, when asked if he believed Greece would stay in the currency bloc.

Greece's euro zone partners had been wrong to insist on a process of reforms and fiscal adjustment which was too fast for the country to withstand, Monti said.

"Europe has to learn how to not take too much of a short-term view, he said, adding the reforms needed in Greece would take a generation, rather than two or three years as its partners had demanded.

"Greece has lost its sovereignty, it's under the instructions of the IMF, the ECB, the European Commission. Having the others tell you, 'here is the money but I'm deciding,' must be a terrible terrible humiliation."

He earlier told a news conference that he did not expect it would be long before European countries were ready to introduce common euro zone bonds.

"Italy is very much in favor of the creation of euro bonds when the time is right, and we do not expect it to be too far off, Monti said during a news conference.

Turning to Italy, Monti told the television show said he was in favour of privatizing state assets to help cut debt, including utilities in the hands of local authorities, and the government would soon announce measures on this front.

"I am in favor (of privatizations) and having done the preparatory work, now we are able to accelerate, he said.

However, he cautioned it was not possible to launch a massive privatization program like Italy did in 1990s, partly because of depressed market conditions and partly because so much had already been sold.

Monti, whose popularity has fallen sharply this year as Italians have felt the effect of austerity measures made up largely of tax hikes, said he felt he still had sufficient backing in parliament.

"It seems to me that the parties support this government, even if that involves significant sacrifices for them, he said.

Asked about reforms needed of Italy's banks, Monti said the most important thing was to integrate banking supervision at the European Union level, adding that this had been discussed at this week's meeting of EU leaders in Brussels.

[Reuters]

ekathimerini.com , Friday May 25, 2012 (10:51)  
EU Commissioner Damanaki unlikely to return to Greek politics
Police arrest one, seek another three over counterfeit goods
Coalition submits new proposals for Greek coastline
Troika review in Athens unaffected by Paris meeting
Six firms submit bids to lease Vouliagmeni beach
Six companies have made bids to Greece Public Properties Company (ETAD) to lease Vouliagmeni beach in southern Athens for at least the next 15 years. ETAD opened the sealed bids on Tuesday. ...
IMFs Lagarde not sure yet about debt relief for Greece
It is not clear yet whether Greece needs debt relief, according to International Monetary Fund managing director Christine Lagarde. I would not pass judgment on whether or not debt relief i...
Inside Business
VOLLEYBALL
Volleyball national team second in European League
Much as the national volleyball team tried to repeat in the finals of the European League the feat it had achieved in the semifinals, it failed to overturn the advantage Montenegro had got f...
SOCCER
Ranieri says he has little to change in Greek national team
The Hellenic Football Federation (EPO) presented Claudio Ranieri as the new Greece coach for the next couple of years, after the Italian manager signed his contract in Athens on Friday. I l...
Inside Sports
COMMENTARY
Through insecurity comes optimism
Prime Minister Antonis Samaras recently expressed his optimism regarding the quota of 180 Parliamentary deputies required for the election of Greeces next president, in order for the countr...
EDITORIAL
Futile policy
The policy that Israel has been pursuing vis-a-vis the Palestinians is wrong and futile. Current tactics have failed to resolve the security issue and, at the same time, they are rapidly dra...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Six firms submit bids to lease Vouliagmeni beach
2. IMFs Lagarde not sure yet about debt relief for Greece
3. EU Commissioner Damanaki unlikely to return to Greek politics
4. Police arrest one, seek another three over counterfeit goods
5. Coalition submits new proposals for Greek coastline
6. Deals reached for twin plot on Afandou, for 42 million
more news
Today
This Week
1. Coalition submits new proposals for Greek coastline
2. Police arrest one, seek another three over counterfeit goods
3. EU Commissioner Damanaki unlikely to return to Greek politics
4. IMF's Lagarde not sure yet about debt relief for Greece
5. Six firms submit bids to lease Vouliagmeni beach
6. Greece names fifth privatization agency chief in four years
Today
This Week
1. Unequal after death
2. Greek sovereign debt at 174.1 percent of GDP in first quarter
3. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
4. Quadriplegic woman on life support 'dies due to unpaid power bills'
5. Front-line threats
6. Defense Minister Avramopoulos to represent Greece at European Commission
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.