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Factbox: Policymakers' comments on Greek rescue package

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Thu May 6, 2010 7:28pm EDT

(Reuters) - The Greek parliament is set to adopt a harsh austerity plan in the face of violent unrest, as markets look to the European Central Bank to prevent debt crisis engulfing the euro zone.

Following are comments made over the last two days:

PRIME MINISTER GEORGE PAPANDREOU

"This is the time for change. There is not a single day or hour to lose."

"I take responsibility as prime minister for making the decisions I believe are necessary for my country and its citizens ... I don't care if this will be the only time I serve as prime minister."

"The sacrifices are big but we are already walking on a new path. We are not asking workers and pensioners alone to pay for everyone else."

"The emergency measures are the condition for us to gain back our credibility and win time, lost time. The time to make the big changes that were delayed for years. We wouldn't be here, we wouldn't be asking Greeks for these sacrifices, if this looting hadn't taken place in past years."

GERMAN CHANCELLOR ANGELA MERKEL

"As a result of high levels of indebtedness, the deficits in individual states in the euro zone are now different. As far as the market is concerned, this has made tensions visible which are being completely exaggerated."

"To some degree this is battle between the politicians and the markets. But I am firmly resolved -- and I think all of my colleagues are too -- to win this battle."

"The speculators are our adversaries. That's why we need to be even more careful than usual with the words we choose, and to show that we're united."

GERMAN FINANCE MINISTER WOLFGANG SCHAEUBLE

"If we were to have a debt restructuring, then we would have -- and we are all saying this ... exactly the kind of conflagration that we could no longer control."

"We are in a really fundamental crisis, the stability of the euro is really at stake."

ECB PRESIDENT JEAN-CLAUDE TRICHET

"(The ECB Council) did not discuss at all anything like default or such a default procedure.

"And on the contrary, as you know, we are firmly on the side of the fact that the various -- Greece, of course, which is the country that I quoted in my introductory remarks, will not default."

FRENCH PRESIDENT NICOLAS SARKOZY AND GERMAN CHANCELLOR

ANGELA MERKEL

"We are fully attached to keeping the solidity, stability and unity of the euro zone," -- extracts of joint letter to European Council President Herman Van Rompuy published by the Le Monde newspaper.

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