• July 21 EU scheme can secure the viability of Greek debt
  • Liquidity problem in Greek economy is top priority
  • Must do all that is needed to attain competitiveness
  • Recession to reach -5.5% in 2011
  • Target is to have primary surplus in 2012
  • Greece must stop creating deficits, more debt
  • Govt forced to make up for fiscal shortfall with new measures
  • 2012 budget priority will be cutting spending