Obama praises Greek austerity policy

US President Obama has praised the Greek government’s strict austerity measures and structural reforms and said the country must now start creating growth.

At a meeting with Greek Prime Minister Samaras in Washington on Thursday, Obama said: “I think Prime Minister Samaras is committed to taking the tough actions that are required but also understands and wants to make sure that the Greek people see a light at the end of the tunnel.”

Samaras agreed, saying they are going to do what has to be done as far as structural changes are concerned but emphasised the need of economic growth and creation of new jobs, especially for the youth.

The meeting between the two leaders comes as Greece’s unemployment rate hit an all time high of 27.6%. Amongst 15 to 24 year olds it is up to 64.9%

Greece is seeking to lift itself out of a six-year recession. Ordinary Greeks feeling the effects of austerity imposed by international lenders say they feel little hope of an economic recovery.