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Vienna, 02 October 2012 Fekter: "Greece making initial progress over reforms" Finance Minister praises Greece's efforts to improve its situation

"If Greece remains on track, then it is entitled to a show of solidarity from the euro countries," stressed Finance Minister Dr Maria Fekter in an interview. "Greece is working hard on austerity measures and it is clearly evident that they are willing," declared Fekter. The aim is to lead Greece back onto the path of ordered public finances and a stable economy," she added.

In Fekter's opinion, an exit by Greece from the Eurozone would not solve problems, but only exacerbate them. "Greece would then need help from its European partners for even longer. The fact is that a Greek exit would be incomparably more costly than the path we are taking now," assured Fekter.

"Greece is aware that a positive report from the Troika is a precondition for further aid payments and it must therefore act," argued Fekter. "We can already observe that initial progress has been made, including improved competitiveness in the export sector. However, I do not rule out the possibility that implementation of the planned reforms may be delayed," she concluded.