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.

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 gains to be achieved by a combination of reforms and labor market adjustments are going to be more permanent and will provide a basis for reducing unemployment and improving expert performance and sustaining growth in a way that is more sound and more permanent.

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.

The financial crisis in our country is not a passing storm. Given the size of the problems, our national effort will not be completed in 2012. It will take many years and will require the efforts and insistence of several governments.

The government is determined to continue the process of fiscal consolidation and structural reform in order to secure sound public finances and improve the country's international competitiveness.

I am convinced that the public, large majority of the Greek people, realize that policies pursued in the past and the market practices have to be changed, in order to improve the prospects of the Greek economy. So there is, I think, strong public support despite the increases in social tensions.