President Pavlopoulos: Austerity policy has led the eurozone to the brink of an economic crisis and a monetary suffocation

"Provided that Greece is and will remain in the core of the European Union, and the eurozone, its development perspectives, under sustainability and social rights terms, are undoubtedly dependent on the development course of the EU environment," Pavlopoulos underlined.
He also stated that this syndrome of the deteriorating economic suffocation of the eurozone is, in large part, a result of the overexposure to the inherent risks of an austerity policy and accused the European Central Bank (ECB) of lacking the required institutional and political means to play the significant role of other central banks, such as Fed. "The primary goal that is called to play is ensuring the stability of the price level and economic growth," he said.