Greek crisis bottoms out for overturning: former EU president

Former EU president Romano Prodi said March 10 that <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Greece has passed its hard times of the crisis, that other European countries would not be entangled in the same way.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

He told the reporter,“the Greek crisis has come to the end, whereas other countries could be impossible to follow the old path, the claps of Euro monetary system is sounding unreasonable, only because of Greek crisis”.  In fact, Greek government has been striving for lowering budget deficits, which presenting the peak of 12.7 percent against its GDP last year in Europe.

The deficit cutting effected last week, including the fall of expenditure and ups of taxes, will help to prevent the break of its international obligations, and will provide 4.8 billion Euro inflows.

French President Sarkozy stressed on 7 that the i6 members of the EU should strongly back up Greece, while German Chancellor Merkel has just given political support for Greece’s deficit cutting.  Finally Prodi indicated that Spain and Portugal should have more time to put their own house in order, since so much interventions made by European countries.