July 6, 2011

Deputy PM and Finance minister Evangelos Venizelos and his German counterpart, Federal Finance minister Wolfgang Schäuble, met tonight in Berlin for their first bilateral meeting since Mr Venizelos’ appointment in June.

The ministers discussed current European affairs over dinner. Among the issues covered was the sovereign debt crisis in the Eurozone, with a special focus on the progress of the reform programme in Greece. Minister Schäuble praised the reform and fiscal efforts of the Greek government and welcomed the approval of the government’s latest reform laws in parliament last week.

Both ministers agreed that the measures that have been enacted must now be swiftly implemented in order to speed up the country’s economic recovery.

In addition to these measures, a fresh impetus is now required to support growth. A strengthening of the private sector and private investments are essential conditions for Greece to achieve balanced budgets in the medium and long terms. In this context, the discussion also focused on a possible contribution from German business.

Prior to his meeting with Minister Schäuble, Minister Venizelos had met with representatives of the German industry federation (BDI). German industry representatives confirmed their readiness to support Greece on its current path.

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