A video interview with Chinese state news agency, Xinhua, was given yesterday by Dionysia-Theodora Avgerinopoulou MP, in the wake of the economic turbulence, which was caused after Standard &Poor’s downgraded the creditworthiness of the United States of America.
Ms. Avgerinopoulou noted that the recent sharp swings in the financial markets prove that the problems of the global economy are inherent, existed for several years, and are certainly not limited or caused by the problems of the Greek economy, as it is evident by the problems of debt and sluggish growth of the major economies of the world.
“Global crisis has its roots in unsustainable policies. The imbalances that are caused need to be addressed immediately through global co-operation. Short-term and long term solutions that will re-engineer international practices and international institutions need to be devised and implemented without delay. Especially for the Eurozone the issuance of Eurobonds is certainly necessary”.
Ms. Avgerinopoulou also stressed that during the reorganization of the UN that is in play and within the Economic and Social Council of the Organization, international practices and procedures that have proved to be inadequate can be regenerated in response to new social and economic challenges.
Dionysia Avgerinopoulou MP, also a Young Global Leader of the World Economic Forum noted that in their current modus operandi, and as their score has proven so far, the assessments of Credit Rating Agencies are only indicative of the economic progress of countries and companies. Apart from a European Rating Agency, whose establishment is now proposed by the European states a Credit Rating Agency with an international scope and with active participation of states needs to be established in order to provide greater reliability and transparency.
To avoid deepening of the global economic crisis, developed and developing countries as well, need to tackle high unemployment rates, and instill a new vision for the global economy. Restructuring the global economy based on better education of the human capital will bring about innovation in all productive sectors. In the interview with the largest Chinese news agency, Ms. Avgerinopoulou as Deputy Head of Environment Sector Policies of her party, New Democracy, emphasized strongly on the need for “sustainable and rapid” development for Greece. She noted that orchestrated effort is necessary to be put in new but also traditional economic sectors such as tourism, shipping and agriculture. “Greece has rich resources. We only need to find efficient tools for managing them, “she said.