Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-13-Speech-2-527-000"
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"en.20120313.21.2-527-000"2
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". – In addition to what I have already listed, I also raised the matter with the Deputy Managing Director of the International Monetary Fund in Washington. The IMF was very interested to find out about the importance and the relevance of the social dialogue in this particular case, which concerns the trade unions in the European context.
However, I think it is wrong to say that the response to the crisis in Greece is not producing results – although, of course, at a time of recession, we cannot be fully satisfied. It is an important result; there is now an agreement about a second package, which also includes a very significant debt reduction. Greece needs that, and there is nothing more important at this stage than delivering it.
The trade balance has improved significantly, and this raises hopes that Greece is regaining competitiveness, though at a very heavy price: we do not deny that. However, in view of the very unsustainable situation which had developed in Greece’s finances, I believe there is no easy or obvious way of ascertaining how – without a sacrifice – Greece could go through the adjustment process and return to competitiveness and economic growth in the end."@en1
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