Press Release: Statement by the EC, ECB, and IMF on Greece’s Economic Program
IMF News, February 12, 2011
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- Published: February 12, 2011
Joint assessment and program status
- Press Release No. 11/42
- Date: February 12, 2011
- At the conclusion of the joint mission, the three institutions noted that Greece’s economic program "remains on track."
- The institutions indicated "continuing strong support for the Government in meeting its objectives of fiscal consolidation and restoring growth and competitiveness," as reflected in the Memorandum on the program.
Institutional collaboration and roles
- Collaboration is described as based on "mutual trust."
- The three institutions stated they have "full respect for the prerogatives and initiatives of the Government in all areas of economic decision-making."
- The role of the EC, ECB, and IMF is stated as "to advise and support the Government while considering options during the decision-making process."
- The statement notes it is "regrettable if a different impression was perceived at any time."
Recognition of challenges and support for the Greek people
- The institutions "recognize the difficult challenges facing the Greek economy."
- They expressed "the deepest respect for the tremendous efforts being made by the Greek people."
- The statement reaffirms: "We continue to support those efforts."
Source: Press Release No. 11/42, February 12, 2011.