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Anastasia Balezdrova

Minutes after his statement that Greece is doing everything possible to return to the financial markets as soon as possible George Papandreou had to comment the downgrading of Greece, this time by Standard & Poor's.

He criticized their tactics and said that "they moved very quickly from the soap bubble of euphoria to the panic of risk. They were those that rated the "toxic" bonds, which led to the crisis, AAA. "There is a difference between politics and markets and who makes the decisions. The European Union should consider the fact that the credit rating agencies do not give anyone account for their decisions and actions," said George Papandreou sharply.
 
A little earlier, he stressed that "banks should also cooperate and make efforts for the development of the country" and expressed his optimism that Greece will be able to emerge from the crisis without relying on the new support mechanism.

George Papandreou accused the conservative government of New Democracy "for the difficult economic situation in which the government of PASOK took the country after the 2009 elections." "Everyone, including our partners in Europe recognize our efforts to change and the decisions we took. Only New Democracy does not want to do it," said George Papandreou during a press conference at the meeting of the Group of Socialists and Democrats in the European Parliament, held in Athens.
 
He thanked the European allies for their assistance and support for the adoption of the decisions during the Summit last Friday. George Papandreou said that improvements could be made in the final text on Eurobonds, the taxes on financial operations and the support mechanism. According to the Greek Prime Minister, the Eurobonds could help in the debt management and the use of funds for the development of Europe, and it would also allay the fears of taxpayers.

On the Pact on the euro, he said that there should be competitiveness in order new jobs and economic development to be created and fair labour contracts to be signed. "All these things are part of the objectives to which we the Socialists are striving."

The Greek Prime Minister said that every country should have the opportunity to decide for itself how to deal with its debt crisis in a sustainable manner. "All together we must make efforts in order the European treaties to comply with the conditions."

The President of the Group of the Progressive Alliance of Socialists and Democrats in the European Parliament Martin Schulz expressed the "complete and unconditional solidarity" of the Social Democrats with Greece, its Prime Minister and its government. "The Greek cabinet faces many serious challenges and we support it in full," he said.

Schulz stressed the need for solidarity in Europe. "We have a common currency; we should have a common development too. It is not possible an economy of a country to develop, and not to develop in others. I'm a German and I know very well what I mean."

He described Merkel as "a quarter chancellor," because as he said she changes her position every four months. "I think the leaders of the two most powerful countries in Europe have lost their power. The French government lost its legitimacy at the last election races, and the German conservative parties lost ground. The Germans and the Frenchmen "condemned" the economic policies of Angela Merkel and Nicolas Sarkozy."

Martin Schulz expressed his belief that Greece will be able to get out of the hard economic situation. "The decisions of the European leaders showed that even conservative leaders began to understand that the outcome of the crisis lies in the solidarity between the countries."

Martin Schulz said on the credit rating agencies: "I do not understand how the people who caused the crisis are those who take the decisions today," and stressed that "not the Eurobonds but some political leaders are powerless. Europe does not need policies in support of banks and investment funds."