George Papandreou Quotes

You've got some very powerful countries: Poland, the United Kingdom, Sweden and others who have a genuine desire to see the euro zone straighten itself out. It's good for all of us, whether you're in the euro zone or not, to make sure that it doesn't lead to a fracturing.

If we do not resolve the euro crisis, we will all pay the price. And if we do resolve it, we will all benefit, particularly German taxpayers and savers.

The euro zone must strike for a better governance structure, and there is no alternative to that. Euro zone countries must either develop an exit mechanism for troubled members, or it should embrace a closer political union: an effective governance structure that is capable of enforcing rules.

I described the euro as a burning building with no exits and so it has proved for some of the countries in it.

The battle of the euro is being fought right now in Spain and Italy. The future of the euro is at stake in the next weeks.

More cuts were needed to avoid exiting the eurozone.

Giving Northern Europe a veto over Southern Europe's budgets will not hold a monetary union together. The euro zone will continue to need the weaker countries to stomach decades of high unemployment to grind down wages.

Two decisions have damaged the stability both of the euro and of Europe: the premature admission of Greece to the euro area and the breach and subsequent weakening of the stability and growth pact.

It is a responsibility we perceive from the entire international community to protect the stability of the single currency as well as the European frame work.

The most pressing and significant problems in the global economy are unsustainable structural issues with regard to the E.U. - fiscal deficits and the structure of the E.U. itself.

For the next three years, we're going to see different economies work out different problems. For European economies, especially Greece, it would be through default.

We only have a Plan A. The acceptance and full implementation of the existing plan, the so-called Plan A, is the best solution for Greece, for the euro zone and also for creditors and holders.

There's no more place in the euro zone for well-meaning laxness when dealing with deficits and failings. If the demands on Greece aren't taken seriously, we'll get stuck in quicksand. In the worst case, this would make it acceptable for one tranche to not be paid out. It is in the Greeks own interest not to test that.

Not all Greeks are ready to do whatever is necessary to stay in the euro.

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.

Europe and the euro zone have no reason, rationally, to push Greece out of the euro. But this is a system in which many parties, many countries, many governments, many electorates participate and we could have events which, rationally, are not controllable.

There is no better protection against the euro crisis than successful structural reforms in southern Europe.

The euro zone is only hurting itself by trying to keep Greece as a member.

Countries themselves need to do everything possible to remain in the euro zone.

The Greek people do not want to exit the euro. And I believe the Greek people already have shown that they have made major sacrifices to stay in the euro zone.

The goal of the government is to guarantee the place of Greece in the eurozone against those who want to undermine it.

At this time - we're in a dramatic crisis - euro bonds are precisely the wrong answer. They lead us into a debt union, not a stability union. Each country has to take its own steps to reduce its debt.

I think it's often discussed that leaving the Euro is an option for Greece. I think this is really not an option.

It will not be possible to solve the current crisis with euro bonds.

Greece's debts are all denominated in euros, but it isn't clear who holds how much of those debts. For that reason, the consequences of a national bankruptcy would be incalculable. Greece is just as systemically important as a major bank.