A Quote by Evangelos Venizelos
Greece is a medium-sized country in Europe. Our debt accounts for only 2.5 percent of the total of all members of the euro zone.
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Greece has given Europe the opportunity to fix a defect in the euro zone, that is the fact that we did not have a fiscal union. Now steps have been taken to begin that process. And there is more solidarity from nation to nation, and that is a good thing. That has been Greece's gift to Europe.
Our position in Europe is not negotiable. The Greek people will defend it by all means. But participation in the euro involves rules and obligations, which we must consistently meet. Greece belongs to Europe and Europe cannot be envisaged without Greece.
Businesses will only invest in Greece if three conditions are fulfilled. First, there must be a clear commitment to the euro. No businesses will invest if they have to fear that Greece will leave the euro zone at some point. Second, the Greek government must be prepared to work together with European institutions in order to restructure the country.
First of all, Greece won't go down. We're talking about a country that is capable of making change. Europe will not allow the destabilization of the 27-country euro zone. But if there were no action, then markets would start becoming jittery about other countries - and not only Spain and Portugal, but other countries in the European Union.
I would describe that [friendship with Greek Prime Minister Alexis Tsipras] as a utilitarian friendship. At the time, his country was facing the prospect of leaving the euro zone and many Greeks felt abandoned by Europe. In such a situation, it seemed appropriate to me to present myself as a friend to Greece. It had to do with the country's dignity.
I don't want euro bonds that serve to mutualize the entire debt of the countries in the euro zone. That can only work in the longer-term. I want euro bonds to be used to finance targeted investments in future-oriented growth projects. It isn't the same thing. Let's call them 'project bonds' instead of euro bonds.
Europe and the euro zone have no reason, rationally, to push Greece out of the euro. But this is a system in which many parties, many countries, many governments, many electorates participate and we could have events which, rationally, are not controllable.
Greeks have to know that they are not alone ... Those who are fighting for the survivor of Greece inside the Euro area are deeply harmed by the impression floating around in the Greek public opinion that Greece is a victim. Greece is a member of the EU and the euro. I want Greece to be a constructive member of the Union because the EU is also benefiting from Greece.
A country outside the euro zone cannot have a veto over countries in the euro zone.
The United States really only accounts for about 3 percent of the economic engagement with Russia. Europe is 40 percent, and so Europe's contribution to this pressure is far more than symbolic. It's very practical. And that's one of the many reasons why we have worked hard to remain in close coordination with our European partners.
We saw in Greece how dangerous it is if a country has a bigger and bigger debt, and I hope that we will not have a second Greece in our neighbouring country, Italy.
The euro zone must strike for a better governance structure, and there is no alternative to that. Euro zone countries must either develop an exit mechanism for troubled members, or it should embrace a closer political union: an effective governance structure that is capable of enforcing rules.
Two decisions have damaged the stability both of the euro and of Europe: the premature admission of Greece to the euro area and the breach and subsequent weakening of the stability and growth pact.
I hope Greece is going to remain in the Euro zone.
In 2013, Samsung accounted for about 20 percent of South Korea's total business profits. Samsung Electronics, just one of scores of subsidiaries, accounts for close to 15 percent of the total shares in the South Korean stock market. But you don't need to know these figures to get a feel for Samsung's hold on the country.
The key problem is the debt restructuring in the euro zone. As long as the debt burden is not reduced, there is no chance of the weaker EU countries regaining competitiveness.
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