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Greek Prime Minister Lucas Papademos described the decisions taken at the Summit in Brussels as «a major step towards fiscal consolidation and unification of the eurozone» and stated that Greece will follow the fiscal policy under the new rules adopted, after it successfully completes its economic program and reaches a zero deficit .

"The decisions that were taken represent major steps towards overcoming the crisis as well as steps which are intended to avoid recurrence of similar events in the future", stressed Mr. Papademos during a press conference after the Summit of the European Union and indicated that combined with the important measures adopted on Thursday by the European Central Bank, they will contribute towards the gradual overcoming of the crisis.

In connection with the problems of Greece, the Prime Minister said that "the government has developed a three-year programme, which must be successfully completed", and as a response to journalists' questions, he explained that the measures are likely to be required for 2013-2014 will be further determined in the implementation of the second programme. Particularization of this programme will begin next week when the supervisory Troika arrives in Athens, and will end in early January.

The Greek Prime Minister said that "if the measures which were already voted are implemented, there will be no need for new ones", adding however that "the economy operates under uncertain conditions". Lucas Papademos said in conclusion that the agreement made on 26^th October is guaranteed and has not been questioned.

In connection with the budget Mr. Papademos said that "if it is implemented, and it can be implemented, as there are ambitious but achievable targets set in it, this would change the fiscal image of the country and lay the foundations for a new economic recovery".

To the question of whether the new government's work is effective, he answered affirmatively, noting that many important things have been achieved over the past month.

Good "omens" for PSI

Regarding the participation of private investors in the restructuring of the Greek debt (the PSI programme) Mr Papademos, described the "omens" for the procedure as good, stressing that the aim of Greece is to have the greatest possible participation of private investors in the programme for Exchange of Greek bonds.

"Our efforts are aimed at increasing private sector participation in the PSI. I do not see why private investors would not participate. 'Omens' for the PSI are good" he said.

Evangelos Venizelos: National extra efforts

In turn, the Finance Minister Evangelos Venizelos said that the main point in the decisions of the European Council has been the fact that thedecision taken on 26^th of October has been fully confirmed.

The fact that it has been, clarifies that the programme for exchange of the Greek bonds is the only case that will not happen again, will help in the negotiations with the private sector because it will make it feel safer, he said.

In response to questions about the new measures and deviations in the current budget, Mr. Venizelos said that for 2011 the period until the end of February 2012 will be critical from a  financial point of view, "We have to make extra efforts by the end of February", he said.

Meanwhile the Finance Minister expressed his hope that with the help and understanding of all Greek citizens «we will achieve our goals and we will apply the programme voted and adopted for 2011 and 2012».

In conclusion, he appealed to everyone to realize that unity and mobilization of forces is needed. "We must show patience in order to sail round this dangerous cape and for the ship to remain safe and secure», said Mr. Venizelos.