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.

Governments cannot assume or expect that the ECB will always facilitate their funding independently of the achievement of their fiscal and other policy objectives.

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.

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.

Dealing with Greece's problems will be more difficult if Greece is not a member of the eurozone.

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.