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Greek PM promises Germany country will reform

Sep 27, 2011 2:30:34 PM - www.ft.lk

BERLIN, (Reuters) – Greece will meet its commitments to international lenders, Prime Minister George Papandreou told a German audience on Tuesday and also said Europe’s bailout fund must be expanded.

Greece is under pressure to reform so it can receive further aid and Papandreou will hold talks with German Chancellor Angela Merkel on the euro zone debt crisis later in the day.
“Along with much tighter fiscal oversight, we must expand the EFSF (European Financial Stability Facility) and formulate permanent mechanisms for economic stability and solidarity,” Papandreou said in a speech to industry leaders in Berlin.
Merkel is struggling to convince rebels from within her own party to vote for the enhanced EFSF, as agreed by European leaders in July, in parliament on Thursday.
Although the bill will be passed as opposition parties support it, she faces a major blow to her authority if she has to rely on opposition support. Opposition parties have said Merkel would have to call for early elections if she fails to secure a majority from her own ranks.
Panadreou said Greece would meet all its commitments to win the next round of aid.
“I promise you we Greeks will soon fight our way back to growth and prosperity after this period of pain,” he said.

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