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FINANCIAL NEWS

Greek PM

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Greek Prime Minister, George Papandreou said that Greece can get growth in 2012, according to a statement.

The European Financial Stability Facility "should be robust and flexible”, he said at a panel discussion in Davos. European Union needs “the necessary tools and rules and arsenal…so that we can calm the markets”, he added.

Papandreou stressed that Greece is on track with its austerity program. 

"Debt is not the problem, debt is just a symptom," Papandreou told at the World Economic Forum.

“We have to do our homework and we’re doing that,” he said. “We are on a path that we think we can get growth in 2012 and restore confidence. We are hoping to return to the markets even this year.”  

“We have been doing everything by the book. The question is why haven’t the markets responded,” the prime minister said. 
He concluded that there will be a lengthening of the debt to the European Union.
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