In an interview with DAF Deutsches Anleger Fernsehen former Greek prime minister Georgios Papandreou talks about the idea of a growth treaty and the future of the euro."I have always been a proponent that we need a growth strategy in Europe. And I am very happy to see that this now is becoming a central debate in the European Union, recently in the French elections and in Germany as I know", Georgios Papandreou says at the St. Gallen Symposium. "We need on the one hand to have countries like Greece put our house in order, do our homework as you say in Germany. And we are doing that. But that alone is not enough and I would call it more fiscal responsibility rather than fiscal austerity." Fiscal austerity means, according to Greece's former prime minister, to look at social cohesion and growth. Europa does not only have a debt crisis, but very much has a competitiveness crisis. Part of the problem with the competitiveness is the debt issue, but also the need to invest in areas, that will make Europe quality products like green energy. If Papandreou still belieces in the European Union and the euro - find out in this video.. Looking for the German version of the interview? Click here.
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