Brussels, 08/01/2013 (Agence Europe) - “I would like to make it clear up front that our country is undertaking great efforts that are linked with great sacrifices to get things back on track. We are trying to win back credibility, on the part of the people of Europe and on the part of the markets”, said Greek Prime Minister Antonis Samaras in Berlin on Tuesday 8 January 2013 at a joint press conference with German Chancellor Angela Merkel with whom he had discussed the reform process in Greece and the European agenda. Samaras also attended a business conference organised by the German Die Welt newspaper.
The Greek prime minsiter added: “We must also do everything to guarantee economic growth and, with that, job security”. Samaras pointed out that the scourge of youth unemployment was a particularly painful phenomenon. According to figures from the EU's statistical office Eurostat, unemployment amongst under 25-year-olds hit 57.6% in Greece in September 2012. Samaras explained: “We have presented a number of bills, and we now want to ensure in this way that we do the best to get things back into order and to restore, in particular to ensure liquidity, ultimately the blood for the good functioning of the economy is. This and investment, so if you want that. Two major elements that are necessary for our country, a country that actually suffers very much, especially the scourge of unemployment, especially among young people”. Merkel said that everything had to be done to encourage economic growth and ensure job security in Europe.
On Tuesday, Greek newspaper Ekathimerini said that the country's top four banks' capital requirements had been underestimated. At the end of December 2012, the Bank of Greece said the four banks would need €27.5 billion. Beforehand, Europe had given the go-ahead for payment of a first instalment of €16 billion to recapitalise Greek banks, with a further €7.2 billion expected later in the year. Ekathimerini says the amount needed may actually be more than €30 billion because of the huge losses made by Greek banks in the bond buy-back in December (see EUROPE 10749). An official at the Greek Financial Stability Fund said that there had been no indications that the banks in question were going to ask for more money.
In Berlin on Monday, Samaras was optimistic about his country's ability to get over its problems, saying the cup was now “half full”. In Athens, Greek Finance Minister Yiannis Stournaras cautiously expressed the need to keep up the momentum of reform in order to carefully nurture the confidence that the country was starting to inspire again. (EL/transl.fl)