If we were going to default, we would have decided that many months ago. It would be wrong for the Greek economy, it would be wrong for the European economy, it would make things worse in the end. That's why we're taking the pain and making these structural reforms, and we're on target.

I have been supporting the European Union, but we are still a work in progress. We have to become more of a United States of Europe. We should talk about electing a president of the E.U., rather than having one selected from the heads of government.

The structures in Europe in a globalising economy need to be modernised, need to be more integrated, need to be stronger.

There is this concept of politics as a dirty game.

Despite the deep reforms we are making, traders and speculators have forced interest rates on Greek bonds to record highs.

Greece has given Europe the opportunity to fix a defect in the euro zone, that is the fact that we did not have a fiscal union. Now steps have been taken to begin that process. And there is more solidarity from nation to nation, and that is a good thing. That has been Greece's gift to Europe.

Today I want to send a message of optismism to all Greeks. Our road, our path, will be more stabilised. Our country will be in a better situation. We will be stronger.