Eurozone summit: extracts from the press conference by Herman van Rompuy, José Manuel Barroso and George Papandreou
On 21/07/2011 in Brussels, José Manuel Barroso, President of the EC, Herman van Rompuy, President of the European Council, and George Papandreou, Greek Prime Minister, gave a joint press conference on the occasion of the emergency summit of Heads of State or Government of the Euro area, called to draw up new plans to contain the debt crisis that has engulfed parts of the eurozone.
José Manuel Barroso stated that it was the first time since the beginning of the crisis that politics and the markets were coming together. He underlined that the credible package adopted dealt with both the concerns of the markets and of citizens. It responded also to the concerns of all Member States of the Euro area and it was a package that every government has signed up to. The President called on every one to go out and defend and implement with determination this package.
Some points were clarified during the Summit like measures to ensure the sustainability of Greek public finances, feasibility and limits of Private Sector Involvement, scope for more flexible action through the European Financial Stability Facility (EFSF), repair of the banking sector and measures to ensure the provision of liquidity to the banking system. José Manuel Barroso also announced that the EC has created on 20/07/2011 a "Task Force for Greece" in order to bring growth back to the country.