CRI听力:Greek Debt Crisis

"The principle cause of the crisis in the countries on the periphery is the difference in the members' development between north and south, the low competitiveness of the countries on the periphery, namely, Greece, Portugal, Ireland, and Spain, and their large state deficit. It was lack of competitiveness, not the incompetent management of the rulers that is the most serious reason for the explosion of debt."

Greece entered the Eurozone more than a decade ago under the reign of former Greek Prime Minister Costas Simitis.

He says the EU 's insistency on austerity measures has worsened the deep recession.

The policy has led to a 21-percent unemployment and closing of more than 111-thousand businesses.

"Using austerity and only austerity to rectify economy is a wager, that can only be won under proper plan. If it is not implemented with far sight, the wager will be lost, and result in failure. "

However, Mr. Simitis reckons he doesnt want Greece to leave the Eurozone.

He says polls show that 75-percent of the Greek population is supportive of his country staying in the Eurozone.

"In my opinion, because the majority is for the Eurozone, there is no question that we must belong to the Eurozone. We must have the currency of Euro. If we don't have the currency of Euro, It will be a catastrophe."

Despite of the gloomy situation, Simitis is actually optimistic about Greece's prospects in the EU:

"I'm optimistic because I have been for 17 years members of different European countries. The EU is a big machinery, our problems is there are differences and there are fights and wars. But you find compromises. You find ways out of the problem. It takes some time, but up to now, after more than 6 years, there was no problem that has not been solved. "

He contends the EU should take forward steps towards economic and political integration.

Shifting his attention from Greece to relations between China and the European Union, Simitis says there's an important role for China to play to help Greece emerge out of the crisis.

"We are very pleased when Chinese want to invest in Greece, and we ask them to come. Our development and also the entire European Union is dependent on foreign investment. And Chinese people are welcomed!"

For CRI, I'm Zeng Liang.