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Barroso Lauds Greeks, Chides Government.

Through carefully worded statements European commission president Jose Manul Barroso chided the Greek government for being ineffective, while lauding the Greek people for its great sacrifices , in an interview with German newspaper Bild.

In answering a question on whether he had lost faith in the Greek government, Mr. Barroso noted that, "in recent years Greeks have done incredible achievements. Citizen's sacrifices are tremendous. It is, however, also true that certain reforms have yet to be realized. Athens should present results here. The most important thing is that through the aid programs for Greece and the other over indebted countries the eurozone was visibly stabilized in its entirety."

He added that, "there is no danger of a Grexit and a collapse of the eurozone. We have proven that we have the political willingness."

At the same time, the Commission chief continued to vehemently oppose the possibility of a new "haircut" of Greek debt, because as he stressed this would cause consternation in the eurozone and anxiety to investors, while it would also be unacceptable to taxpayers in lending countries.