16 November, 2010
 A two-day meeting of the Council of the Socialist International (SI) opened in Paris today, chaired by Prime Minister and SI President George Papandreou, with the Global Economy, Climate Change and the forthcoming UN Climate Change conference (COP16) in Mexico, and Resolution of Conflicts as the three themes of the agenda.
"The solutions for global balance must include issues such as the protection of labour, tackling unemployment, support for women, combined with safeguarding fundamental rights and putting forth strategies for fighting poverty," he said.
 After a meeting with French President Nicolas Sarkozy yesterday, Papandreou told reporters that they had agreed on the issue of establishing a permanent financial stabilisation mechanism for EU member-states in crisis within the EU Treaty. Concerning the policies that should be adopted by the EU, Sarkozy and Papandreou agreed that, in addition to fiscal stability, decisions had to be taken that would help boost growth and employment. "Growth that will bring jobs and will help transform the European economy into a green and competitive economy," the Greek prime minister stressed.
Commenting on remarks made by the German government - that bond markets, banks that finance nation with high debt should be prepared to take the course of a possible default or haircut in the future - Papandreou said: this "created a spiral of high interest rates for the countries that seemed to be in a difficult position such as Ireland and Portugal.
This could create a self-fulfilling prophecy. It is like saying to someone since you have a difficulty, I will put an even higher burden on your back but this could break backs. This could force economies towards bankruptcy."
Source: GREEK NEWS AGENDA issued by the Secretariat Genera
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