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Greece has “will and strength” to tackle economy

Greece has the “will and the strength” and the support of its people to carry out tough the economic measures needed to restore its battered economy, Stavros Lambrinidis, vice president of the European Parliament, said.

The Greek politician also criticized financial speculators for trying exploit his country's weakness, using it as a “pinata” or punch bag.

Athens has struggled to convince investors it is tackling its debt crisis and markets are nervous about a default.

EU leaders discussed the issue last week and offered words of support but failed to outline concrete steps, further unsettling markets.

“The government has indicated in the past weeks, even though these are not particularly popular measures, as you can imagine, that it has the will and the strength to do it, and the remarkable support in the Greek polls...indicates that Greece is going to manage to get rid of this mess,” Lambrinidis told Sky News.

“An interesting question that you said was discussed in Brussels in the past couple of days is indeed how is it that the European Union can deal with the humungous market speculation taking place in the past few weeks against the Greek economy.”

“It's a children's pinata game, except in that pinata you don't have candy anymore you have billions of euros and there are financial speculators around the world who are just picking up their sticks and hitting it, and in this particular case it is Greece and tomorrow it may be some other country perceived as a weak link,” he said.

“There the European Union does not have mechanisms to actually support countries that are trying to put their finances in place, from these attacks.” (Reuters)