In the 20 years before Greece end up with the Euro, efforts to improve competitiveness through exchange rate and adjustments resulted only in temporary gains of competitiveness.

I think the funds that have been pledged at Euro Summit combined with the outcome of the private sector involvement process should be sufficient in order to support financially the Greek economy.

I am personally convinced - and I think the Greek people share this belief in a fundamental way - that we can achieve fiscal consolidation more effectively and we can restore competitiveness in a more fundamental and permanent way within the euro area than outside.

So it won't be a surprise when the Greek default actually happens and we expect it one way or the other to be relatively soon.

Our eurozone partners have made it clear: The choice is between staying in or getting out of the eurozone.

I am not a politician but I have dedicated the biggest part of my professional life to economic policy both in Greece and Europe.

The participation of our country in the eurozone is a guarantee for the country's monetary stability. It is a driver of financial prosperity.