Lucas Papademos

I thank all of those deputies who supported the government and gave it a vote of confidence. I believe each of those votes represents a responsible decision to avoid placing our country's membership of the eurozone in danger.

I am confident that we can overcome this crisis, provided that we remain united in our effort to address our debt and competitiveness problems. And I think that the Greek people are united; it's important also that the political forces are united in line with the will of the Greek people.

Greece is at a crucial crossroads. The choices that are made and the policies that are enforced will have a decisive impact on the wellbeing of Greeks. The way forward will not be easy but the problems can be solved, and will be solved, if there is unity, co-operation and consensus.

In the 20 years before Greece end up with the Euro, efforts to improve competitiveness through exchange rate and adjustments resulted only in temporary gains of competitiveness.

Delays in granting of justice very often reduce the speed with which investment could be undertaken, discouraging investors.

I am convinced that the public, large majority of the Greek people, realize that policies pursued in the past and the market practices have to be changed, in order to improve the prospects of the Greek economy. So there is, I think, strong public support despite the increases in social tensions.

I think the funds that have been pledged at Euro Summit, combined with the outcome of the private sector involvement process should be sufficient in order to support financially the Greek Economy.

I am personally convinced - and I think the Greek people share this belief in a fundamental way - that we can achieve fiscal consolidation more effectively and we can restore competitiveness in a more fundamental and permanent way within the euro area than outside.

I think the facts reveal that the European partners have taken extraordinary measures to help Greece address its problems.

I think the gains to be achieved by a combination of reforms and labor market adjustments are going to be more permanent and will provide a basis for reducing unemployment and improving export performance, and sustaining growth, in a way that is more sound and permanent.

We must all assume out responsibilities to take the country forward.

I think achieving a higher fiscal stability is also a very important condition for restoring an environment which is conducive to growth.

Greece could default on its debts and even exit currency bloc if it cannot deliver reforms.

The government is determined to continue the process of fiscal consolidation and structural reform in order to secure sound public finances and improve the country's international competitiveness.

The new co-operation government will do the best it can to address the country's problems, and I believe that with the co-operation of all - and the new government stresses this - and the unity of all, we will achieve that.

I take office during the most difficult moment in the country's recent history. The country can be saved - it's up to us. I think it is obvious for those who support this government to undertake the commitment and ensure that our country's euro membership is not endangered.

I am not a politician but I have dedicated the biggest part of my professional life to economic policy both in Greece and Europe.

Our eurozone partners have made it clear: The choice is between staying in or getting out of the eurozone.

So it won't be a surprise when the Greek default actually happens and we expect it one way or the other to be relatively soon.

I think it's often discussed that leaving the Euro is an option for Greece. I think this is really not an option.

Our position in Europe is not negotiable. The Greek people will defend it by all means. But participation in the euro involves rules and obligations, which we must consistently meet. Greece belongs to Europe and Europe cannot be envisaged without Greece.

My job will not be easy but I am convinced the problems will be solved in a quicker and more efficient way if there is unity and consensus.

And judging what is appropriate or not appropriate for a country, I think it is important in particular in judging what is the appropriate economic policy framework, one should take into account the overall political environment and the institutional framework within which economic policy operates.

Dealing with Greece's problems will be more difficult if Greece is not a member of the eurozone.

The ECB's interventions in sovereign bond markets should not be perceived or interpreted as a 'freebie' for governments. They are temporary.