European leaders welcome Greek vote result

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European leaders welcome Greek vote result

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A result that will lead Greece back to growth is how some European heads have described the result of the parliamentary elections.

Although the exact composition of the coalition government remains unclear, the president of the European Commission said the outcome marked Greece’s return to the fold.

“We stand by you, we consider Greece a member of the euro area and of the European family and we’re ready to support and work with you in whatever way so that we can return to growth and jobs in Greece,” Barroso said.

The result has also been welcomed in Italy, one of two countries at the centre of contagion fears. Its Prime Minister Mario Monti said the outcome augured well for the EU’s future but added that Athens must move quickly to form a government: “Greece needs more growth orientated policies. But we can now have a more serene vision of the future of the eurozone. You know the Italian position on this and I believe our policies are getting closer and this is positive.”

Sentiments shared by the prime minister of Spain, the other country at the centre of the eurozone debt crisis. Speaking on his arrival in Mexico for G20 talks, Mariano Rajoy greeted the election result at good news for Greece and good news for Spain.

“I’m totally convinced that this strengthens the euro. The euro project is irreversible and we must continue to make progress on it,” he said.

The G20 summit is set to be dominated by the euro zone crisis for the third year in a row. But this time the new focus may be on how to stimulate growth measures such as extra spending rather than emergency rescue funding for countries unable to fund themselves in debt markets.