Dear President Barroso,

Following our very fruitful meeting on 29 February 2012 and your subsequent letter of 6 March 2012, and in view of the forthcoming European Commission Communication, I would like to address some of the key issues we have been discussing that can significantly contribute to supporting growth and employment in Greece.

At the initiative of President Barroso, the European Commission will adopt a Communication highlighting the priority measures to get Greece growing again. These measures, to be taken in Greece during 2012 as part of its second economic adjustment programme, will help to create the conditions for sustainable growth and job creation and begin to reverse the negative trends of recent years.

EU Commissioner for Regional Policy, Johannes Hahn, in Athens on 21 March, added another element to boost growth by launching a new Guarantee Fund for Small and Medium-Sized enterprises (SMEs) for Greece. This new facility, agreed in cooperation with the European Investment Bank (EIB) will help SMEs which have been worst hit by the crisis to access credit, by providing the banks in Greece with sufficient liquidity.