Press Release No. 11/42

Press Release: Statement by the EC, ECB, and IMF on Greece’s Economic Program 

February 12, 2011

At the conclusion of our joint mission yesterday, we noted that Greece’s economic program remains on track. We also indicated our 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. Our collaboration in this effort has always been, and continues to be, based on mutual trust. Our three institutions have full respect for the prerogatives and initiatives of the Government in all areas of economic decision-making, and our role is to advise and support the Government while considering options during the decision-making process. It is regrettable if a different impression was perceived at any time. We recognize the difficult challenges facing the Greek economy and we have the deepest respect for the tremendous efforts being made by the Greek people. We continue to support those efforts.