• There is a need for clearly defined exit strategies for big budget deficits
• Greece moving in right direction but needs to see results
• Greeks understand need to pay a political price for debt crisis
• Sees need for euro zone to broaden concept of stability and growth pact
• Euro zone should except mechanisms to improve economic cooperation and to create stronger fiscal discipline
• Such mechanisms are a medium-term goal, can’t be done in a month
• Doubts EMF is the solution for future crises
• It would not be right for ECB to provide credit ratings