Bloomberg News

Venizelos Says Greek Budget Safeguards Decided at Oct. 26 Summit

January 29, 2012

Jan. 29 (Bloomberg) -- Greek Finance Minister Evangelos Venizelos said respect and equality for each separate nation was a fundamental principle of European integration, responding to reports of plans to appoint a commissioner to oversee Greek budget implementation.

“Our partners acknowledge that European integration is based on the institutional equality of nation-states and on respect for their national identity and dignity,” Venizelos said in an e-mailed statement from his office in Athens. “Whoever poses a dilemma between economic aid and national dignity is ignoring basic historical lessons.”

Venizelos said practices to monitor the Greek budget were set out in the EU Summit of Oct. 26, based on the “self-evident assumption that Greece is not only the country which has the responsibility but also the motivation to manage the implementation of the program.”

To contact the editor responsible for this story: Maria Petrakis at

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