Prof. Danuta Hübner MEP in the European Parliament
"There is a need for Greece to start growing. We must demand not only that Greece implement tough austerity programmes, but we must also allow Greece to invest in opportunities for future growth. Debts can be paid back not by decreasing spending today, but more so by promoting economic activity and employment, and therefore raising tax revenue in the future.
Why don't we think of rules where part of a cut goes directly to pay off debt and another part to growth-promoting programmes?
This needs to be coupled with a demand for a hard restructuring of Greece's debt. Even with today's great efforts at austerity, the country's debt keeps increasing. The situation is already completely unsustainable and will only get more unsustainable with every day that we continue our current approach. This can only be solved if the creditors agree to take serious haircuts and we allow Greece to invest part of its cuts into creating future growth".
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Temporary Committee; completed its work 31.07.2011

Temporary Committee; completed its work 31.07.2011