Christos Polyzogopoulos:

Greece hopes for economic development in 2013

March 26, 2012

PanARMENIAN.Net - The whole world is keeping an eye on developments in Greece, EU withdrawal of which has sparked heated debates recently. Many experts believe this can amend the economy of eurozone, yet being an incorrect move in terms of politics. The last EURO 130 billion bailout provided to Greece by leading European structures is able to maintain the Greek economy through 2014. However, the country needs to at least restrain the economic decline in order to tackle the situation. President of the Economic and Social Council (E.S.C.) of Greece Christos Polyzogopoulos presented an overview of situation in Greece in his blitz-interview with PanARMENIAN.Net during his recent visit to Armenia.

How did Greece manage to tackle the default?

Greece took a loan from international structures in order to overcome the crisis, and there is no other country in the world to get such debt for handling the crisis. We have already signed two memoranda with the EU, ECB and IMF. There is also another agreement providing Greece with EURO 5 billion. In addition, everybody knows about our cut-backs enabling us to reduce the state debt by EURO 100 billion.

How do you manage to handle the social aspect and solve the problem of unemployment?

In fact, the unemployed amount to over 1 million in Greece now. Therefore, we must make every effort to ensure economic development; otherwise we cannot settle the unemployment issue. The economic decline in Greece totaled to 18 per cent over the past four years, while starting from 2013, we can hope for economic development. As for now, we must do our best to hold back the recession. Many analysts estimate that crisis may be overcome, and economic development can become tangible during 2012 and further on. We've already curbed this deficit decline and are gradually moving on.

What is the estimate of Greece's state debt?

The state debt currently has zero per cent rate. We even have a EURO 400 million surplus in 2012.

What are the most promising spheres of cooperation with regard to Armenia?

We consider cooperation in all spheres, not only in trade-economic fields, but in tourism and culture as well; cooperation must be developed in different areas.

Victoria Araratyan / PanARMENIAN News

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