Addressing the EU-Latin America and Caribbean (EU-LAC) Summit taking place in Madrid yesterday, Prime Minister George Papandreou spoke of the need to prevent and tackling financial crises with "new tools" capable of achieving macroeconomic and fiscal consolidation.
Referring to the IMF's role, Papandreou said its agenda could expand but its core function will remain unchanged, namely, dealing with the balancing debts and deficits.
He also noted that "green development" could be part of a solution to the European crisis, considering that it could create new jobs, while he also referred to renewable energy sources (RES).
On the sidelines of the summit, George Papandreou held talks with EU and Latin American leaders, including the Presidents of Paraguay, Ecuador, Costa Rica and Brazil (PHOTO), as well as FYROM Prime Minister Nikola Gruevski.
News ERT: Greek PM Addresses EU-Latin America Summit
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Photo: Prime Minister Georges Papandreou with Luiz InĂ¡cio Lula da Silva, President of Brazil.