Why Grece should be kicked out of the EU - Greek Opposition Leader Opposes Use Of EU-IMF Plan (complete lack of responsibility - personal interests trumps everything)
ATHENS (Dow Jones)--The head of the Greek opposition New Democracy party opposes the use of a European-led bailout package for Greece, warning that further austerity measures would severely damage the economy, state-owned NET television reports Sunday.
"Neither the economy, nor society, will stand new measures," New Democracy leader Antonis Samaras said in a speech to party officials, part of which was televised.
His remarks come just hours ahead of a closely watched conference call of finance ministers from the 16 countries that use the euro, aimed at finalizing the details of an aid plan for Greece.
Euro-zone countries last month agreed that, if needed, they would give Greece a series of loans in concert with an International Monetary Fund package.
Greece's borrowing costs have soared after investors dumped Greek bonds in a series of volatile trading sessions last week.
The government, which plans to tap financial markets with a EUR1.2 billion T-bill auction this Tuesday, hopes investor jitters will be calmed once details of the aid package emerge, and as Greece moves to fully implement its three-year reform and austerity program.
Samaras criticized the government for moving too slowly to address the country's economic crisis.
"Never in the past has any Greek government succeeding in making so many blunders, in such a short period of time and for such nonsense reasons," Samaras said.
-By Alkman Granitsas, Dow Jones Newswires |
