The Ecb's Interventions In Sovereign Bond Markets

I Think It's Often Discussed That Leaving The Euro Is An Option For Greece. I Think This Is Really Not An Option.

And Judging What Is Appropriate Or Not Appropriate For A Country, I Think It Is Important In Particular In Judging What Is The Appropriate Economic Policy Framework, One Should Take Into Account The Overall Political Environment And The Institutional Framework Within Which Economic Policy Operates.

I Am Convinced That The Public, Large Majority Of The Greek People, Realize That Policies Pursued In The Past And The Market Practices Have To Be Changed, In Order To Improve The Prospects Of The Greek Economy. So There Is, I Think, Strong Public Support Despite The Increases In Social Tensions.

So It Won't Be A Surprise When The Greek Default Actually Happens And We Expect It One Way Or The Other To Be Relatively Soon.

More Cuts Were Needed To Avoid Exiting The Eurozone.