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10 November 2011

Statement by President Van Rompuy and President Barroso on the designation of Lucas Papademos as Prime Minister of Greece


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Van Rompuy and Barroso stated that although this will be a transitional government, its workload will be extremely intense. They announced that the voluntary bond exchange with private sector investors should take place as planned at the beginning of 2012.


"The agreement to form a government of national unity opens a new chapter for Greece. We have long stressed the need for a broad political consensus around measures to lift Greece out of this deep economic crisis. As such, we warmly welcome this news."

"It is important for Greece's new government to send a strong cross-party message of reassurance to its European partners that it is committed to doing what it takes to set its debt on a steady downward path. Fiscal consolidation should go hand in hand with the structural reforms needed to transform Greece's growth potential and generate the jobs its people so urgently need."

"We reiterate that our European Institutions will continue to do everything within their power to help Greece. But Greece must also do everything within its power to help itself. We have relayed these messages to the Greek leadership. We look forward to meeting as soon as possible with the designated Prime Minister, Lucas Papademos, to discuss the pressing matters on our common agenda."

Press release



© European Council


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