Greece could default on its debts and even exit currency bloc if it cannot deliver reforms.
Lucas PapademosAnd judging what is appropriate or not appropriate for a country, I think it is important in particular in judging what is the appropriate economic policy framework, one should take into account the overall political environment and the institutional framework within which economic policy operates.
Lucas PapademosI 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.
Lucas PapademosDealing with Greece's problems will be more difficult if Greece is not a member of the eurozone.
Lucas PapademosI 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.
Lucas Papademos