G. Papandreou: important step in memoranda – political news

The current exit from Greece of rescue programs that were introduced eight years ago to prevent an economic collapse and restore the growth of the heavily rewarded economy is an important step forward, said former Greek Prime Minister George Papandreou in Xinhua.

"It is to be welcomed that we now have access to the money markets at reasonable prices after eight years of adjustment programs, which is an important step forward, but again, there is no reason to celebrate it," said George Papandreou, Chairman of the Democratic Socialist Movement, in a written statement to Xinhua.

Greece now has a balanced budget, but has lost 25% of GDP, budget cuts have often hit the weakest level of society, and unemployment is high and many young people are migrating to work in other countries, the former prime minister noted.

"Now is the time for new initiatives, investments and social policies with which Greece can strengthen its own capabilities, strengthen sustainable development and reduce social inequality," he said.

It is also the responsibility of the Greeks to avoid mistakes in the future, such as errors that derailed the budget and paid off the debt in 2009, mistakes that undermined the credibility of Greece internationally, he emphasized.

"My belief is that on this critical point we need to develop a broader consensus in our country that will lead our country to further institutional and economic changes," said George Papandreou.

These reforms will help attract new investments, accelerate economic convergence with other EU countries and create incentives for many Greeks to return, he explained.

"After many years of sacrifice, the Greek people ask, and I am sure that Greece is capable of that, a transition to a more stable and sustainable growth, the control of deficits and debts, and the provision of new jobs and hope. for the Greek people ", said George Papandreou.

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