PARIS (MNI) – French Finance Minister Francois Baroin hailed Friday
the Greek debt swap deal as a major achievement of cooperation within
the Eurozone that would avert the risk of default.
“It’s good news, it’s a beautiful success,” the minister exclaimed
in a radio interview. “It’s something that allows us both to remain on a
voluntary basis, which avoids default and thus the risk of a collapse of
Greece, [and] allows us to attain all the objectives we had set.”
Baroin praised the efforts of French President Nicolas Sarkozy and
German Chancellor Angela Merkel as well as the cooperation of Eurozone
finance ministers.
“Now we must implement this over the long term,” he said, warning
against any attempt to unravel the accord.
Baroin expressed support for Spain as well, noting that despite its
high deficit, the country’s public debt level was in line with
Maastricht rules.
“Thus they have qualities as well,” he said. “We have confidence in
the Spanish government.”
–Paris newsroom +331 4271 5540; Email: ssandelius@marketnews.com.
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