01/04/2010 (Agence Europe) - Greece wants to avoid having to activate the financial support mechanism set up one week ago by the European Union, the country's finance minister, Georges Papaconstantinou, said in an interview published on Thursday 1 April by the economic daily, Imerissia. “Our aim is to avoid ever having to activate the mechanism” conceived to offset eventual inability on the part of Greece to refinance on markets, the minister said. The system adopted on 25 March by the EU provides for European loans and for loans from the International Monetary Fund (IMF). “There is no ceiling determined for interest rates” for the country over and above which the government would call for implementation of the mechanism. “This would not help”, the minister added. He reaffirmed that, in order to bring down the cost of borrowing, “which reflects the insecurity felt by investors given the size of the debt and the country's credibility deficit”, his government planned to strictly apply its exit plan for overcoming the crisis, focused on the reduction of public sector spending and the fight against tax fraud. (L.C./transl.jl)