ECONOMY

Barroso: Apply the memorandum

BRUSSELS – In a text he is set to deliver on Wednesday, European Commission President Jose Manuel Barroso is expected to insist that the application of major reforms to radically change Greece?s civil administration and state will render the country attractive to enterprises and reverse its negative image.

That will be possible through the strict application of the second memorandum Athens signed with its official creditors and the full utilization of the European resources and technical advice offered, a draft of the speech suggested.

“The success of the process eventually depends on Greece,» it says, while calling for «a unified national effort by the population and the political leadership.”

He will call for 12 billion euros? worth of spending cuts in the 2013-14 period, as well as funds for small and midsized enterprises.