Announcement on rumors of possible Greek default

Athens, September 9, 2011

 

Deputy Prime Minister and Minister of Finance of Greece, Mr. Evangelos Venizelos, commented on the rumors about a possible Greek default this coming weekend, as follows:


It is not the first time that we see an organized wave of “rumors” about an upcoming Greek default. This is a game of a very bad taste, an orchestrated speculation that is targeting the euro and the Euro Area as a whole.

Greece’s fundamental choice and priority is to fully and entirely implement the July 21 decisions and, of course, to wholly fulfill its obligations that derive from the agreements reached between Greece and its partners.

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Greek Finance Minister: No Time to Relax in wake of Rescue Deal

July 22, 2011

Greek Finance Minister: No Time to Relax in wake of Rescue Deal


Greek Finance Minister Evangelos Venizelos said on Friday (July 22) that while a rescue deal carved out by Eurozone ministers has brought great relief to the Greek economy, now is not the time for the government to relax as economic programs are implemented.

Venizelos called the agreement, which includes a new rescue loan of 109 billion euros, a new momentum for Greece. "The situation is difficult of course. The problem is great. Our responsibility is great in terms of time and history, but it is of great importance that we make use of every opportunity, every moment to the full extent, as we have now a new momentum."

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FinMin Evangelos Venizelos statement after meeting with Secretary of State H. Clinton

Athens, July 17, 2011

 

Deputy PM and Finance Minister Evangelos Venizelos made the following statement after the meeting with Secretary of State Mrs. Hillary Clinton:


I had a very interesting and substantial discussion with Mrs. Clinton on all the details, but always under a political approach. The US Government and the Secretary of State herself understand very well that the problem of the economy is political and that Greece must present a complete national story in terms of what it does and for the prospects that lie ahead.

US support is extremely important. It is important through the IMF, where the role of the United States is crucial. US support is also important through the bilateral contacts that they maintain with all Eurozone member states and they realize fully well that, if Greece produces results in tackling tax-evasion, in the collection of public revenues and in the implementation of the privatization program, the international environment will shift. Moreover, they take note of any achievements, of the smallest positive step possible towards that direction.

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Venizelos on the results of the “EU-wide stress tests” of the banking system

July 15 2011


Referring to the release of the results of the “EU-wide stress tests” of the banking system, Deputy Prime Minister and Finance Minister Evangelos Venizelos made the following statement:

The results of the EU-wide stress test of the European banking system that uses extreme theoretical scenarios and situations, is particularly favorable to the Greek banking system.

91 banks from the 27 EU member states took part in the stress tests, among which the six largest Greek banks that cover almost the entire banking sector, over 90%.

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Press Release on Fitch

Athens, July 13 2011

 

The Ministry of Finance has issued the following press release:


Following a series of recent downgrades in the Eurozone, today Fitch has downgraded the Hellenic Republic debt to “CCC”.

According to the announcement by Fitch, this downgrade has occurred because the final shape of Greece’s new support programme until mid-2014, with a new loan by the Eurozone and the IMF, as well as the final form of private sector participation, have not yet been finalized.

However, according to Eurogroup’s decision on Monday, the new programme will come into effect before September 15, when the new disbursement to Greece will be made. At the same time, the exact form of private sector involvement is being finalized through intense deliberations within the guidelines of Eurogroup, taken in the presence of ECB and IMF.

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PRESS RELEASE: Εvangelos Venizelos signed the new treaty for the establishment of the European Stability Mechanism

Brussels, July 11 2011


Greek Deputy Prime Minister and Finance Minister Evangelos Venizelos signed today, on behalf of the Hellenic Republic, the new treaty for the establishment of the European Stability Mechanism (ESM).

The new treaty was signed by the Finance Ministers of the eurozone member states on an intergovernmental level, before the Eurogroup Council session.


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Evangelos Venizelos’ statement at the doorstep of the Eurogroup

Brussels, July 11, 2011


Greek Deputy Prime Minister and Finance Minister Evangelos Venizelos’ statement at the doorstep of the Eurogroup meeting in Brussels:

I am ready to participate in a substantial and constructive discussion on PSI because we need today a very strong and clear message of stability not only in Greece but also in the Eurozone and beyond.

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Venizelos’ statement after the Eurogroup teleconference

Saturday, July 2 2011

Greek deputy PM and Finance Minister Evangelos Venizelos made the following statement today:

During this evening’s teleconference, Eurogroup decided:

1. To proceed to the fifth tranche until July 15. The IMF is expected to reach its decision on July 8, according to the usual practice. 

2. To work out a new programme on time, before mid-September, so that the disbursement of the next tranche is made possible, based on the current timetable

Today’s decisions reached by Eurogroup were made possible, after the approval of the Middle Term Fiscal Strategy program and the Implementation Law in the Parliament.

This development has strengthened the country’s international credibility. What is crucial now is to implement parliament's decisions on time and effectively, in order to be able to gradually exit the crisis for the benefit of the national economy and Greek citizens.

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