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Xinhua, August 5, 2011
Greek Prime Minister George Papandreou called Friday for further institutional enhancement of the eurozone to tackle the public debt crisis that still haunts the region.
"Recent developments mainly reflect an increasing skepticism about the systemic capacity of the euro area to respond to the ongoing crisis," Papandreou said in a written response to European Commission President Jose Manuel Barroso's letter addressed to all EU leaders earlier this week.
The institutional enhancement of the eurozone should be taken "in a swift and effective manner," he said.
"Besides the immediate implementation of the decisions taken on the 21st of July, it will take us a constant effort of further institutional enhancement, so that we always are ahead of developments and not behind them," stressed the Greek premier in the letter released to the press by his office.
EU leaders agreed to provide debt-ridden Greece with a second aid package in a summit meeting in Brussels last month, and to strengthen the firepower of the eurozone's stopgap rescue fund European Financial Stability Facility (EFSF) to counter further challenges within the region.
"Provided these decisions are implemented in a timely and effective way, they will equip the zone with all institutional and financial tools necessary for tackling swiftly the crisis," Papandreou said, requesting "action now in national parliament, where that is necessary."
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