Greece 'Blackmailed and Humiliated Scapegoat' - FinMin

Business » FINANCE | September 19, 2011, Monday // 13:46
Bulgaria: Greece 'Blackmailed and Humiliated Scapegoat' - FinMin Greek Vice-President and Finance Minister Evangelos Venizelos has called for making three large strategic decisions as part of the national strategy if Greeks want the country to stop being blackmailed and humiliated. Photo by EPA/BGNES

Greece should not be the "scapegoat" for the debt crisis in the eurozone, while European and international institutions are trying to hide their own lack of competence to manage the situation, the country's Finance Minister, Evangelos Venizelos, has said.

His emotional and angry statement was published on the site of the financial department following Monday meeting of the government.

In his statement, Venizelos also said that Europe and the International Monetary Fund had failed to "give a definitive and complete answer to the attacks against the euro".

He said that to stop this situation, the country had to move ahead with its deficit reduction work so it could meet its financial targets.

"If we want to stabilise the situation, if we want to avert default, if we want to remain in the core of the eurozone, if we want the country to stop being blackmailed and humiliated - because no citizen should have to put up with humiliation of their country - we have to make three large strategic decisions as part of our national strategy."

These include achieving the 2011 and 2012 fiscal targets, achieving annual budget surpluses "as soon as possible" and carrying out structural changes to allow Greece to become more competitive and productive.

Venizelos, also urged groups in Greece opposed to the government's spending cuts to stop their criticisms, saying they created a "negative stereotype" which undermined the country's credibility.

"This cannot go on. Those of us with a public standing, whether they are politicians, journalists, analysts, entrepreneurs, academicians, must have in mind that what they say can be used as arguments against the country."

The EU and IMF agreed EUR 110 B of bailout funds for Greece in May last year.

Venizelos is due to discuss Greece's next release of bailout funds later. Greece needs this money by next month to avoid defaulting on its debt.

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Tags: greece, Venizelos, Evangelos, EU, IMF

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