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More cuts were needed to avoid exiting the eurozone.

Lucas Papademos

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Lucas Papademos
Age: 77
Born: 1947
Born: October 11
Banker
Economist
Former Prime Minister Of Greece
Politician
University Teacher
Loukas Papadimos
Lucas Demetrios Papademos
Avoid
Cutting
Needed
Exiting
Cuts

More quotes by Lucas Papademos

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I am convinced that the public, large majority of the Greek people, realize that policies pursued in the past and the market practices have to be changed, in order to improve the prospects of the Greek economy. So there is, I think, strong public support despite the increases in social tensions.
Lucas Papademos
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My job will not be easy but I am convinced the problems will be solved in a quicker and more efficient way if there is unity and consensus.
Lucas Papademos
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I am not a politician but I have dedicated the biggest part of my professional life to economic policy both in Greece and Europe.
Lucas Papademos
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I take office during the most difficult moment in the country's recent history. The country can be saved - it's up to us. I think it is obvious for those who support this government to undertake the commitment and ensure that our country's euro membership is not endangered.
Lucas Papademos
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I am personally convinced - and I think the Greek people share this belief in a fundamental way - that we can achieve fiscal consolidation more effectively and we can restore competitiveness in a more fundamental and permanent way within the euro area than outside.
Lucas Papademos
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And judging what is appropriate or not appropriate for a country, I think it is important in particular in judging what is the appropriate economic policy framework, one should take into account the overall political environment and the institutional framework within which economic policy operates.
Lucas Papademos
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I think achieving a higher fiscal stability is also a very important condition for restoring an environment which is conducive to growth...
Lucas Papademos
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I think the gains to be achieved by a combination of reforms and labor market adjustments are going to be more permanent and will provide a basis for reducing unemployment and improving expert performance and sustaining growth in a way that is more sound and more permanent.
Lucas Papademos
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Dealing with Greece's problems will be more difficult if Greece is not a member of the eurozone.
Lucas Papademos
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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.
Lucas Papademos
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Governments cannot assume or expect that the ECB will always facilitate their funding independently of the achievement of their fiscal and other policy objectives.
Lucas Papademos
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The participation of our country in the eurozone is a guarantee for the country's monetary stability. It is a driver of financial prosperity.
Lucas Papademos
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We must all assume out responsibilities to take the country forward.
Lucas Papademos
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Delays in granting of justice very often reduce the speed with which investment could be undertaken, discouraging investors.
Lucas Papademos
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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.
Lucas Papademos
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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.
Lucas Papademos
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I am confident that we can overcome this crisis, provided that we remain united in our effort to address our debt and competitiveness problems. And I think that the Greek people are united it's important also that the political forces are united in line with the will of the Greek people.
Lucas Papademos