Papandreou States: “There is No Going Back on the Euro for EU” - The Greek debt is manageable without restructuring, Prime Minister George Papandreou stressed in Oslo on Friday. Addressing the Progressive Governance Conference themed “A Post-Crisis Agenda for the Centre -Left: Securing Shared Prosperity”, organised by the think tank Policy Network, Papandreou added that: “We have decided to remain and to safeguard the Euro”.Papandreou outlined a series of measures being implemented by the Greek government, such as the opening of so-called closed-shop professions, and changes to taxation and the social security system. As a result, he is expecting a 5 percent decrease of the deficit annually and an increase in exports. He further pointed out the positive signs in the tourism sector, while regarding the manageability of the debt he cited a relevant appraisal by the International Monetary Fund (IMF). “The Greek drama has become a European drama,” the Premier said, adding that in the midst of the crisis the European identity, European solidarity and crisis management ability were being put to the test.
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