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.

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.

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

We must all assume out responsibilities to take the country forward.

Our position in Europe is not negotiable. The Greek people will defend it by all means. But participation in the euro involves rules and obligations, which we must consistently meet. Greece belongs to Europe and Europe cannot be envisaged without Greece.

I think achieving a higher fiscal stability is also a very important condition for restoring an environment which is conducive to growth...

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.