President Pavlopoulos: Europe must change the policies of austerity

Europe needs to change the austerity policies being implemented at present which shrink the gross domestic product of most EU member-states and affects negatively Europe’s viable growth, President Prokopis Pavlopoulos said on Tuesday during a speech at a dinner organized in his honour by the French-Hellenic Chamber of Commerce.

Pavlopoulos said this policy should be replaced with an economic policy which combines harmoniously the elimination of deficits and waste and the debt crisis with the achievement of sustainable development.

“This policy must be founded on necessary reforms and appropriate investments as well as a rationally designed boost of liquidity and demand,” he added.