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Statement of Commissioner Rehn on Greece

11/09/2011

Greece needs to meet the agreed fiscal targets and implement the agreed structural reforms to fulfil the conditionality and ensure funding from its partners. This is fundamental to ensure the sustainability of public finances, to improve perspectives for the Greek citizens in terms of growth, jobs and welfare.




Olli Rehn European Commissioner for Economic and Monetary Affairs Overcoming the Economic Crisis in Greece and Europe "Reset Greece" - ALDE Seminar Brussels

07/09/2011

There are currently rather high expectations on how eurobonds could help solve the debt crisis by pooling the debt issuance of euro-area member states. However, it is clear that eurobonds, in whatever form they were to be introduced, would have to be accompanied by a substantially reinforced fiscal surveillance and policy coordination as an essential counterpart, so as to avoid moral hazard and ensure sustainable public finances. This would have unavoidable implications for fiscal sovereignty, which calls for a substantive debate in euro area member states.

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