Friday March 6, 2015 Search
Weather | Athens
20o C
11o 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)  
Europe stocks headed for 31% surge this year amid QE, Citi says
Greek reforms list cites tackling evasion, fiscal savings, source says
Greece sends new letter with details on reforms, sources in Brussels say
Greek and German bruisers limber up for rumble in the eurozone
Germany: Greece could get money early if reforms come sooner
Berlin does not see any basis for Greece to get the next tranche of its bailout immediately to prevent it from becoming insolvent but if Athens implements its reforms sooner than expected, i...
Cash-strapped Greece repays first part of IMF loan due in March
Greece repaid the first 310 million euro installment of a loan from the International Monetary Fund that falls due this month, as it scrambles to cover its funding needs, a government source...
Inside Business
BASKETBALL
Barcelona beats Panathinaikos once more
For the fourth time this season Panathinaikos failed to beat Barcelona, this time in Athens, losing 81-77 on Thursday and denting its chances for a privileged top-two finish in its Euroleagu...
SOCCER
Iraklis, Apollon and Xanthi in Cup semis
The prospect of a second-division team reaching the Greek Cup final has grown considerably after two out of the three teams that made the semifinals this week come from the Football League. ...
Inside Sports
COMMENTARY
PISA, Schengen, mediocrity and isolation
Greeces most serious problem is not the economic and political crisis, though it did contribute greatly to it. At the root of our evil lies our great isolation, not only from our partners i...
EDITORIAL
New blood, fresh ideas
New Democracy needs new blood and fresh ideas. Former Prime Minister and conservative chief Antonis Samaras should be credited with keeping Greece on its feet and he is one of the very few p...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Germany: Greece could get money early if reforms come sooner
2. Europe stocks headed for 31% surge this year amid QE, Citi says
3. Greek reforms list cites tackling evasion, fiscal savings, source says
4. Greece sends new letter with details on reforms, sources in Brussels say
5. Cash-strapped Greece repays first part of IMF loan due in March
6. Greek and German bruisers limber up for rumble in the eurozone
more news
Today
This Week
1. BoG chief Stournaras briefs PM Tsipras on ECB's decisions on Greece [Update]
2. Cash-strapped Greece repays first part of IMF loan due in March
3. Greece must repay loans in full, bailout fund head says
4. Greek and German bruisers limber up for 'rumble in the eurozone'
5. Greece sends new letter with details on reforms, sources in Brussels say
6. Greek reforms list cites tackling evasion, fiscal savings, source says
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. The Greek tax drama
3. SYRIZA feeling the pain
4. Varoufakis to make six reform proposals at Monday's Eurogroup
5. The unlikely winners of Greece's surrender on euro
6. Tsipras reversal draws Greek sympathy as party rumblings rise
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.