' Tackling climate change and investing in Renewable Energy Sources (RES) is the answer to recession and unemployment, Prime Minister George Papandreou said on Wednesday, speaking during an event hosted by the Bank of Greece (BoG) to present a report on the "environmental, economic and social impacts of climate change in Greece".

In his address, Papandreou made a special reference to the movement of the "Indignados", stressing that "those who protest in city squares are appealing to national democratic systems, which are weak and hostage to a global power".

He also added that "democratic and informed global governance is necessary, as well as a radical reform of democracy on national and regional level."

Referring to the RES, he said that investments in the specific sector will produce 100,000 job positions in Greece by the year 2020.

"Greece's production model has started to change," Papandreou said, stressing that investments in RES will reach 16.4 billion euros within the next decade, while the energy link of the islands with the mainland is estimated to 4-5 billion euros.

"Already 22 foreign and Greek companies have expressed interest in the huge 200MW photovoltaic park in Kozani, NW Greece," he pointed out.

Papandreou underlined that "the environmental protection issue is directly linked with the kind of economy we are building". He added that developed countries should proceed with drastic cuts in carbon dioxide emissions to avoid catastrophic consequences and underlined that while the planet's young generation has the potential and tools to ensure prosperity, at the same time, is experiencing the paradox of widespread inequality and of an "elite" controlled power.

The study, unveiled in the special BoG event, is the outcome of 26 months of research and has produced climate projections for Greece in a detailed geographic breakdown up to the year 2100.