The deal on the Greek loan has been made

An important agreement that relieves a lot of pressure on the Greek economy was reached after marathon consultations which concluded at dawn on Saturday, in Brussels.

Our country has succeeded in extending the loan for 7.5 years while the interest rate for repayment has been reduced by 1%.

Prime Minister George Papandreou said that this way we gained more than 6 billion.

In particular, during the press conference given by the prime minister straight after the culmination of the Brussels Summit, he mentioned that the Greek demands had been met and so had the extension of loan repayment to 110 billion in 7.5 years, as well as the reduced rate for the entire loan by 100 points.

Mr. Papandreou stressed that during the long hours of negotiations the Greek government called for an extension of the repayment of the loan in order to smooth out the adjustment, as well as lower interest rates, while the European mechanism can buy government bonds and government tax on financial transactions, so that banks can pay as well.

"Today was a big step forward", added the Prime Minister, and continued by saying that a decision has  been reached regarding the current support mechanism's facilitation with 440 billion and 500 billion from 2013.

"We wont this battle armed with the seriousness and consistency that have been our trademark. We want to keep our country's consistency towards the program that we have", said the prime minister, adding that "we should stop doing an injustice to the efforts of the Greek people".

He also noted that the mechanism could buy government bonds from each country, while there was also the establishment of a European tax on financial transactions, which he characterized as a "premium for the future".

Also mentioned was the euro deal that strengthens competitiveness across each country in the EU, while as he said, Greece supported the initiation of progress and growth, as well as the creation of employment positions. Finally, the institutionalization of social dialogue was also achieved.

Mr. Papandreou stated that "we did not accept a compulsory adoption of fiscal rules through constitutional laws", and insisted that the pact be compatible with the EU's function.

Replying to a question, he reiterated the government's intention to privatize and take advantage of public property amounting to 50 billion in order to ease the debt by 20%.

He clarified in the most categorical way that no new measures will be taken, but that persistence is needed in continuing this really difficult, program. He also stated that the Greek side has shown that there is support by the Greek people and a unification into a solid front.

Finally, the Prime Minister referred to the government's ultimate goal that Greece enters foreign markets as soon as possible.