• July 21 EU scheme can secure the viability of Greek debt
• Liquidity problem in Greek economy is top priority
• Must do all that is needed to attain competitiveness
• Recession to reach -5.5% in 2011
• Target is to have primary surplus in 2012
• Greece must stop creating deficits, more debt
• Govt forced to make up for fiscal shortfall with new measures
• 2012 budget priority will be cutting spending