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A new political force for a new economic deal


02 Apr 2012


Euro & Finance

Today in Athens, Guy Verhofstadt, President of the ALDE Group together with Dora Bakoyannis, leader of the Democratic Alliance, launched plan to help Greece exit the crisis.

Speaking in Athens, Guy Verhofstadt said, "It is imperative for Greece to have a new start and a long term perspective. The two main parties have so far only contributed to postponing the necessary reforms and have largely contributed over the years to the desperate situation Greece currently finds itself in."

"What is needed is a radical change from the old system. We need is a pro-European, pro-reform and pro-growth agenda."

The main elements of the Greece 2020 are:

1. Continue support for faster, wider and deeper structural reforms

2. Establish a Growth Enhancement Fund - as was the case for the Marshal plan - that will break the vicious circle of disinvestment, improve liquidity in the economy and reignite growth

3. Support the economy by reducing taxes, improve easiness to do business, investment attractiveness and market confidence

4. Implement the Iolaos Plan, an EU ad hoc assistance project to improve the institutional design and productivity of Greek public administration

5. Introduce a new European structure for implementing the Greece 2020 initiative

Guy Verhostadt ended by saying: "These elements will form the basis for a new deal in Greek politics, away from the irresponsible and corrupt practice of the old parties and away from the populist parties that provide no answers to the problems. The only force that can bring change and reform is Dora Bakoyannis and the Democratic  Alliance."

For more information please contact:

Corlett Neil - Tel:+32 2 284 20 77 Mob:+32 478 78 22 84

Laude Yannick - Tel:+32 2 284 31 69 Mob:+32 495 22 78 37