Mr Schulz said that Greece now needs a growth initiative, and that it would reinforce efforts to cut debt while giving hope to the people who are losing their jobs and are being thrown into poverty.
Following a debt swap agreement between Greece and private investors, European Parliament Presiden,t Martin Schulz, made the following statement: "I welcome the agreement between Greece and investors on a voluntary bond swap. The agreement is a major step towards bringing Greek debt to sustainable levels and towards restoring stability in the eurozone. A successful bond swap agreement is a pre-condition for final approval of the second €130 billion aid package for Greece agreed last month.“
Press release
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