EU Warns Greece to Stick to Austerity Plan

May 08, 2012 from Euronews

Brussels has warned Athens it has no choice but to stick to the tough budget discipline set out in its recently negotiated bailout deal. Speaking for the first time since Greece's election on Sunday, which saw a big backlash against austerity, the EU Commission's President Jose Manuel Barroso, urged the debt stricken country's political leaders to act responsibly. ''The programme countries have no alternative, except disorderly default, except that I think it is not an alternative, than to pursue courageous fiscal consolidation measures, structural reforms for competitiveness, and of course, mostly also benefiting from European solidarity, some targeted investment - but investment that can bring growth," Barroso said. Despite the on-going political uncertainty in Athens following Sunday's electoral result, President Jose Manuel Barroso insisted Brussels remained committed to Greece.

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Greece

Greece, officially the Hellenic Republic, is a country in Southeast Europe. According to the 2011 census, Greece's population is around 11 million. Athens is the nation's capital and largest city, its urban area also including Piraeus. Greece is strategically located at the cr... Explore this topic

European Commission

The European Commission is the executive body of the European Union responsible for proposing legislation, implementing decisions, upholding the Union's treaties and day-to-day running of the EU. The Commission operates as a cabinet government, with 27 members of the Commissio... Explore this topic

European Union

الاتحاد الأوروبي هو جمعية دولية للدول الأوروبية يضم 27 دولة، تأسس بناء على اتفاقية معروفة باسم معاهدة ماسترخت الموقعة عام 1992 م، ولكن العديد من أفكاره موجودة منذ خمسينات القرن الماضي. من أهم مبادئ الاتحاد الأوروبي نقل صلاحيات الدول القومية إلى المؤسسات الدولية الأوروبية. لكن ... Explore this topic

José Manuel Barroso

José Manuel Durão Barroso is the 11th and current President of the European Commission and a Portuguese politician. He served as Prime Minister of Portugal from 6 April 2002 to 17 July 2004. Explore this topic

Brussels

Brussels, officially the Brussels Region or Brussels-Capital Region, is the capital of Belgium and the de facto capital of the European Union. It is also the largest urban area in Belgium, comprising 19 municipalities, including the municipality of the City of Brussels, which ... Explore this topic

Athens

Athens is the capital and largest city of Greece. Athens dominates the Attica region and is one of the world's oldest cities, with its recorded history spanning around 3,400 years. Classical Athens was a powerful city-state. A centre for the arts, learning and philosophy, home... Explore this topic

Europe

Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally divided from Asia by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways conn... Explore this topic

Emergency Economic Stabilization Act of 2008

The Emergency Economic Stabilization Act of 2008, commonly referred to as a bailout of the U.S. financial system, is a law enacted in response to the subprime mortgage crisis authorizing the United States Secretary of the Treasury to spend up to $700 billion to purchase distre... Explore this topic

President of Greece

The President of the Hellenic Republic, colloquially referred to in English as the President of Greece, is the head of state of Greece. The President is elected by the Hellenic Parliament, and his role is mostly ceremonial. The office was formally established by the Constituti... Explore this topic

Politician

A politician, political leader, or political figure is a person who is involved in influencing public policy and decision making. This includes people who hold decision-making positions in government, and people who seek those positions, whether by means of election, inheritan... Explore this topic

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