George Papandreou Quotes

First of all, Greece won't go down. We're talking about a country that is capable of making change. Europe will not allow the destabilization of the 27-country euro zone. But if there were no action, then markets would start becoming jittery about other countries - and not only Spain and Portugal, but other countries in the European Union.

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.

Observers and even some officials raise questions about the future of Greece as part of the Eurozone, while the Eurozone itself struggles to deal with fundamental flaws at the heart of its architecture.

Few in Europe imagined the incompetence and dishonesty of Greek economic managers would bring the entire European project into question.

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.

A very difficult year is ahead of us. We must continue our efforts with decisiveness, to stay in the euro, to make sure we do not waste the sacrifices and do not turn the crisis into an uncontrolled and disastrous bankruptcy.

One needs a comprehensive concept that decides just how much debt states like Greece, Ireland, Portugal, Spain and Italy can sustainably bear.

I see nothing that points to a recession in Germany. But I see considerable long-term tasks ahead of us that have to do with markets regaining confidence in Europe and that have a lot to do with reducing debt.

It's a European Union of economic failure, of mass unemployment and of low growth.

Much of what Germany and France have done in the rescue of Greece has also helped German and French banks, who for a long time were major creditors for Greece and Greek banks.

I hope Greece is going to remain in the Euro zone.

I think there will be no government bankruptcy in Greece.

The strongest institution in the hands of the European Union is the euro.

A Greek exit from the E.U. and the euro would mean the Greek economy would be difficult to sustain.

We saw in Greece how dangerous it is if a country has a bigger and bigger debt, and I hope that we will not have a second Greece in our neighbouring country, Italy.

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.

There is a European Central Bank, of course, established and it has the structure similar to the Federal Reserve system, not precisely the same but similar.

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

I think the facts reveal that the European partners have taken extraordinary measures to help Greece address its problems.

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.

The vast majority of Greeks accept the need for reform and want to keep our country inside the euro zone.

Well, as I said, you know the issue of Greek debt, they've grasped the principle of debt reduction. I think most people would argue that probably more needs to be done on that front, and they've just begun to take the first steps to accepting that there's going to have to be much closer economic integration in Europe.

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.

Dealing with Greece's problems will be more difficult if Greece is not a member of the eurozone.

If we were the problem, it would be very convenient - kick Greece out, everything's fine. What would happen to Spain, what about Portugal, what about Italy, what about the whole of the euro zone? We need more cooperation and less simplification and prejudice.