Greek minister says reform policy must have clear target

An effective reform policy must have a clear target, and take in mind economic and social limitations, Greek Economy and Finance Minister George Alogoskoufis said on Wednesday.

Addressing a seminar on "The Policy of Reforms", the minister said reforms could lead nowhere if the society was not convinced.

Speaking of Greece's status in the EU, Alogoskoufis said after 25 years in the EU, Greece ranked middle among all EU member- states in terms of living standards.

He urged his people to realize that Greece would receive less money from the EU after 2013 than it does now.

"We must welcome this development because it shows that there has been progress in the country," he said.

Source: Xinhua