May 05, 2010

Chairman Kerry On Crisis In Greece

WASHINGTON, D.C. – Senate Foreign Relations Chairman John Kerry (D-MA) today offered support to Prime Minister Papandreou, condemned the violence in Greece, and applauded the funding support package announced for Greece by the European Union (EU) and the International Monetary Fund (IMF).

“I offer my moral support to Prime Minister Papandreou and to the Greek people facing this challenging road ahead. I also condemn the violence that we’ve seen on the streets of Athens today and urge calm – this is no way to address the grave problems Greece now faces,” said Chairman Kerry. “The recently announced support package should help pave the way for Greece, working closely together with the IMF, to begin a painful but ultimately healthy journey back to economic growth and prosperity.”

“While I am pleased that the EU was ultimately able to come together with a support package for Greece this past weekend, I believe we must focus on acting more swiftly in the future to stabilize these types of situations. Each passing day, week, and month of inaction saw the price tag for supporting Greece climb steadily upwards for us all. The delay in providing a coordinated package for Greece was costly for EU member states and for the international community - through the IMF’s significant contribution - and also heightened the risk that contagion could affect the global economic recovery now underway.”