Prime Minister Lucas Papademos, on April 20, called on banks to assume their responsibilities and mobilise resources in order to spur the economy. Speaking at a conference on Growth in Greece: SMEs and Entrepreneurship in the 'Europe 2020' Strategy, Papademos explained that reforms and measures being implemented in Greece are not expected to directly impact on economic activity but will occur in the long-term.
He also noted that the course of destruction of SMEs in the country must be reversed so as to boost employment. "If the banks want capital reinforcement, they must finance SMEs. If the SMEs want bank credits, they must safeguard employment and create new jobs," he stressed.
On his part, European Commission Vice-president and Commissioner for Industry and Entrepreneurship Antonio Tajani, addressing the same conference, voiced strong support for Greece, noting the need to resolve issues of access to financing, to place emphasis on growth, tourism and on boosting exports and research and innovation.
He further proposed the evolution of the European Central Bank (ECB) along the model of the US central bank, the FED, and also the introduction of new rules for the credit rating agencies. The conference, held in Athens, was jointly organised by the Hellenic Goverment and the European Commission.
Source: Prime Minister’s website (Conference Programme & PM’s Speech)
26.04.2012
