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"We raised the issue of a debt restructuring or haircut (debt reduction) almost at all meetings held in Greece and no one ever excluded such a possibility," said exclusively for GRReporter the representative of European Parliament Hans-Peter Martin. He is a member of the European Financial, Economic and Social Crisis Committee, which visited Athens this week and met with government and opposition representatives, economists, businessmen, social and public figures. The visit was to note the progress of reforms in Greece, their coordination with the European priorities and the problems encountered in the course.
 
In Hans-Peter Martin’s opinion, none of the Greek representatives excludes the possibility of debt restructuring, but they all see it as the last and most adverse outcome. The government representatives did not disclose whether Greece is ready for a "plan B" if the problem of foreign debt is not included in the overall decision concerning the functions of the new mechanism of financial stability in Europe.

Wolf Klintz, the chairman of the Committee that visited Greece, in turn urged the Greek politicians and public to finally unite in order to overcome the difficult period now. "It is not the time for populism," said the chairman of the special committee, adding that all should forget their narrow partisan interests for a year or two and should focus their efforts on the positive changes in the public sector and its functioning. "It already does not make sense to point out who is to blame and who is not to blame. The milk has been spilled and now is the time to look ahead."

The special committee representatives did not hide their serious disappointment with the position of the small and medium companies. Klintz stated that small and medium sized companies in the country apparently have not realized the important role they play in the economy of Greece and refuse to take any initiative. He stressed that they are the backbone of development and the ones that actually create jobs, but the only thing they say is that the crisis has ruined them and they are unable to continue to pay taxes and to function.  

Wolf Klintz explained exclusively for GRReporter that the small companies should not perceive the government measures with such a horror, but should find ways to adapt to the new conditions. "By definition, this type of companies has neither huge revenues, nor significant profit, so their tax obligations are not so great." He stressed that the initiative of the Ministry of Regional Development and Competitiveness to support the clusters is extremely useful in times of crisis. "Uniting smaller companies in clusters gives them access to innovative technologies and systems, for example, which they could not afford alone and would not have the opportunity to obtain, i.e. this makes them more competitive." These are opportunities that should not be missed, Klintz was clear. He said he expected more initiative and ambition on the part of small and medium companies, not just its representatives' complaints about their fate, because this would not solve their problems in a rapidly changing environment.
 
The European Financial, Economic and Social Crisis Committee praised the government of George Papandreou for the bold measures introduced last year and stated that Europeans understand the difficulty of its task. "You have to disregard what foreign newspapers write. The reforms are extremely serious and we, as politicians, know how hard it is to take such decisions." Despite the positive feedback, the Members of the European Parliament acknowledged in informal conversation that not much has been done yet for the core of the problems in Greece. The cumbersome administrative system and the lack of bold policy on the market liberalization and the socio-political relations are still reigning and pulling the country backwards.  

Wolf Klintz believes that it is still too early to forecast whether Greece will jump the gap or debt restructuring will be inevitable. It is vital to the country to implement its program of fiscal consolidation and structural reforms in time. In this sense, the Austrian MEP said: "We want Greece to succeed, because today we are all in the same boat. Greece can not be considered in isolation, because it is a member of the euro zone and its success is important to us. If it fails, the euro zone fails." He explained that the euro zone itself is not just a monetary union, but a very ambitious political project and a symbol of the European unity. "If the euro zone suffers, it would be a great danger for the European Union itself."
 
When asked about the SWOT analysis or the pros and cons, the opportunities and threats of the government program, the government representatives stated that Greece has many opportunities for development. The first advantage of Greece is its natural beauty and the opportunity to develop tourist services even better. Its strategic position is another advantage that can make this Mediterranean country a logistics hub between Europe, North Africa and Malaysia. He gave the example of Singapore, which starting from a small town has become a key logistics hub of the world  The human factor is also important in the development of the country and it has not been fully used. According to Klintz, Greece has twice as many specialised doctors than the average for the European Union countries, which is a serious advantage. With its natural beauty and warm climate, combined with the well-educated medical staff, the country can develop health tourism, which will directly contribute to increase in its income.  

Wolf Klintz presented the three priorities within the European Union that Greece should also take into account to ensure a stable development environment. First, more serious preventive measures should be taken to prevent capital and deposits outflow from the Union. The next proposal is that the budgets of the member countries should be verified on the level of planning so as to determine how much the states move in parallel in economic terms. Third is the introduction of the euro pact, which will apply mainly to the countries in the monetary union and will ensure the stability of the currency.

The Member of the European Parliament stressed that the aim of the pact would not be to reduce the living standards or the wages of the people, but to increase the competitiveness of the countries in the euro zone. "Actually, the most competitive countries in Europe are the countries with the highest salaries. Take for example Sweden, Denmark, Austria and the Netherlands. The aim of the pact is to assess whether the level of wages reflects the productivity of the country," he said.