Greece could default on its debts and even exit currency bloc if it cannot deliver reforms.

Greece is at a crucial crossroads. The choices that are made and the policies that are enforced will have a decisive impact on the wellbeing of Greeks. The way forward will not be easy but the problems can be solved, and will be solved, if there is unity, co-operation and consensus.

I think it's often discussed that leaving the Euro is an option for Greece. I think this is really not an option.

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.

My job will not be easy but I am convinced the problems will be solved in a quicker and more efficient way if there is unity and consensus.

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.

The new co-operation government will do the best it can to address the country's problems, and I believe that with the co-operation of all - and the new government stresses this - and the unity of all, we will achieve that.