Speaking from Constantinople where the G20 conference is being held French finance minister Michel Sapin spoke today of the need to ensure the funding of Greece but according to the EU rules.
We need to ensure the funding without which Greece will be at the mercy of the international markets but we cannot just say that, Sapin said upon arriving at the conference stressing that the country will need to respect the European rules.
Meanwhile, US Treasury Secretary Jack Lew and his British counterpart George Osborne wrote an article on Wall Street Journal ahead of the G20 calling their partners to agree upon a global development plan that will be based on fiscal and monetary policy measures and reforms.
In their article they speak of common interests with the European partners in order to see Greece maintaining and building on the difficult progress recorded in its reforms adding that in close consultation with the European and international partners, it is important for Greece to implement a reliable and comprehensive approach to reforms, recovery and growth.
Both Lew and Osborne clarify that it is needed to complete the single services and capital market at a European level and that the EU should do more to support growth and jobs, recognizing that its countries have different levels of budgetary margins.
They are in favor of fiscal responsibility, the creation of supportive credit conditions by the central banks, but also of the implementation of structural reforms friendly on growth and productivity enhancement.
