Press statement by José Manuel Barroso on the economy and on Greece at the end of a debate on the economic situation in Europe during the weekly meeting of the EC
On 16 May 2012, José Manuel Barroso, President of the EC, delivered a speech after a meeting of the college of European Commissioners, in Brussels. On this occasion, he said that the European Commission agreed to apply the stability and growth pact intelligently and to use its inbuilt flexibilities.
The President of the European Commission also told journalists that he discussed the role of the European Investment Bank (EIB) yesterday with Werner Hoyer, President of the EIB, and that they would propose using EU structural funds as collateral for EIB lending to countries in difficulty.
Finally on Greece, he said that there was no alternative to the country's bail-out programme and no space to renegotiate its provisions, but that it could be complemented by growth measures. He said that Greek voters had to take in the full picture before casting their votes in a general election next month.