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PRESS RELEASE

Statement by the European Commission, European Central Bank and International Monetary Fund on Greece’s Economic Programme

12 February 2011

At the conclusion of our joint mission yesterday, we noted that Greece’s economic programme 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 programme. Our collaboration on these efforts 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 recognise 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.

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