Sunday November 23, 2014 Search
Weather | Athens
18o C
10o 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)  
Cyprus on agenda in Biden visit to Istanbul
PASOK nixes Papandreou leadership challenge
Troika tests govt nerves as budget rift persists
Climate change to hit farming, Greek coastline
ANALYSIS
Athens deserves slack from creditors
Talks between the government and the troika about the pending review of the Greek economic policy program have stalled over a number of issues, most prominently next years fiscal gap. Altho...
Transfer tax to be based on actual property cost, not objective value
The government intends to provide a boost to the local real estate market by reducing the tax on property transactions as of 2015, with the aim of attracting foreign investors by cutting the...
Inside Business
BASKETBALL
Olympiakos ends PAOKs unbeaten run in Basket League
Olympiakos put an end to PAOKs unbeaten run in the Basket League with an emphatic win at the Peace and Friendship Stadium, leaving Panathinaikos as the only team with a perfect record so fa...
INTERVIEW
Tokyo hopes to change the world
The 2020 Summer Olympic and Paralympic Games in Tokyo will serve as a springboard for the rebuilding of Japans image and economy following the triple blow of the earthquake, tsunami and nuc...
Inside Sports
COMMENTARY
Extremism from a bygone era
There are times when we seem to be overcome by self-destructive madness. I hear various commentators and politicians speaking in extreme terms of a junta, of defections, gallows, collaborato...
EDITORIAL
No call for more games
Psychological warfare has been a part of the negotiations between the troika and Athens from the very start of the crisis. But the situation is much different now and troika decision-makers ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Olympiakos ends PAOKs unbeaten run in Basket League
2. Athens deserves slack from creditors
3. Transfer tax to be based on actual property cost, not objective value
4. Key general meeting at OLP on Tuesday
5. Agenda
6. Carlsberg to use Greece as regional junction
more news
Today
This Week
1. Extremism from a bygone era
2. No call for more games
3. Carlsberg to use Greece as regional junction
4. Transfer tax to be based on actual property cost, not objective value
5. Agenda
6. Key general meeting at OLP on Tuesday
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
3. Biden heads to Istanbul amid tension over Cyprus EEZ violation
4. Anti-junta uprising anniversary to be marked amid tight security
5. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
6. Every age has its collaborators
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.