Athens, July 13 2011


The Ministry of Finance has issued the following press release:

Following a series of recent downgrades in the Eurozone, today Fitch has downgraded the Hellenic Republic debt to “CCC”.

According to the announcement by Fitch, this downgrade has occurred because the final shape of Greece’s new support programme until mid-2014, with a new loan by the Eurozone and the IMF, as well as the final form of private sector participation, have not yet been finalized.

However, according to Eurogroup’s decision on Monday, the new programme will come into effect before September 15, when the new disbursement to Greece will be made. At the same time, the exact form of private sector involvement is being finalized through intense deliberations within the guidelines of Eurogroup, taken in the presence of ECB and IMF.

Tags: StatementsPress Releases

Brussels, July 11 2011

Greek Deputy Prime Minister and Finance Minister Evangelos Venizelos signed today, on behalf of the Hellenic Republic, the new treaty for the establishment of the European Stability Mechanism (ESM).

The new treaty was signed by the Finance Ministers of the eurozone member states on an intergovernmental level, before the Eurogroup Council session.

Tags: Statements

Brussels, July 11, 2011

Greek Deputy Prime Minister and Finance Minister Evangelos Venizelos’ statement at the doorstep of the Eurogroup meeting in Brussels:

left-red-arrowI am ready to participate in a substantial and constructive discussion on PSI because we need today a very strong and clear message of stability not only in Greece but also in the Eurozone and beyond. redsq

Tags: Statements

Saturday, July 2 2011

Greek deputy PM and Finance Minister Evangelos Venizelos made the following statement today:

left-red-arrowDuring this evening’s teleconference, Eurogroup decided:

1. To proceed to the fifth tranche until July 15. The IMF is expected to reach its decision on July 8, according to the usual practice. 

2. To work out a new programme on time, before mid-September, so that the disbursement of the next tranche is made possible, based on the current timetable

Today’s decisions reached by Eurogroup were made possible, after the approval of the Middle Term Fiscal Strategy program and the Implementation Law in the Parliament.

This development has strengthened the country’s international credibility. What is crucial now is to implement parliament's decisions on time and effectively, in order to be able to gradually exit the crisis for the benefit of the national economy and Greek citizens.redsq

Tags: Statements

June 28, 2011

As soon as Deputy Prime Minister and Finance Minister of the Hellenic Republic, Evangelos Venizelos, was made aware of Christine Lagarde's election as head of the International Monetary Fund, he made the following statement from Parliament:

left-red-arrowGreece's representative to the International Monetary Fund, professor Roumeliotis, has just informed me that current French Finance Minister Christine Lagarde has been elected as the new Managing Director of the International Monetary Fund. I would like to  announce the news to parliament, to express my congratulations and to wish her the best of luck on behalf of the Hellenic Government. redsq

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Saturday  20 June 2011

On the sidelines of the Eurogroup Council meeting that continues today in Luxembourg for a second day, the Deputy Prime Minister and Finance Minister Evangelos Venizelos made the following statement:

left-red-arrowThere is a firm belief in the Eurogroup regarding issues concerning Greece. There is an immediate and urgent need to regain the credibility of the country, with regard to the implementation of the Economic Programme.

In contrast to Ireland and Portugal, who appear to have a high degree of internal political consensus, Greece’s national unity has become a prerequisite for our partners whereas it should have been as the Nation’s self-preservation instinct.

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Luxemburg, Sunday 19 June 2011


left-red-arrowThis first participation in the Eurogroup in my new capacity as the Greek Minister of Finance is a great opportunity for me to repeat the strong committment of the Greek government and the strong will of the Greek people for the implementation of the Program.

We can achieve our targets thanks to the efforts of our people and thanks to the cooperation and the assistance of our partners.
Thank you very much. redsq

Tags: Statements