The Greek people are facing historic elections that will decide their future and must be fully aware of the consequences that their decisions will have, European Commission President Jose Manuel Barroso said on Wednesday.

"On the country's future... it is important that the Greek people now take a decision fully informed about the consequences of their decision," Barroso told a news conference.

He also hinted that the European Commission might be prepared to recommend the "modification" of austerity policies in Greece, saying that this was possible "up to a degree", and pointing to statements in this direction made on Tuesday by German Chancellor Angela Merkel and French President Francois Hollande.

Barroso praised efforts by Greek President Karolos Papoulias to broker a coalition in Greece, saying he had done everything humanly possible to form a government and avoid repeat elections but this had not proved possible.

The European official also underlined that Greece was a part of the European family and an important member-state of the EU, adding that the European Commission would work tirelessly so that Greece might "remain a member of the EU and the euro".

Barroso noted that the austerity programme Greece was being asked to implement was the least difficult of the available alternatives.

"The commitments must be kept because there is no other less painful alternative solution," Barroso said, noting that the adjustment programme offered financial support and called for structural reforms to boost growth, as well as demanding cutbacks and fiscal reform. While conceding that Greek citizens were being asked to make great sacrifices, he noted that this was the result of the policies followed by the country in the past.

He also referred to a telephone conversation held with the new French president, who had asked for an examination of all possible options to boost growth in Greece.

On the other hand, he underlined that the agreements between Eurozone countries and Greece would have to be respected and upheld, not just for the credibility of Greece but also that of the Eurozone as a whole. Barroso stressed that any backtracking on the agreements already made and ratified by the 17 eurozone member-states, including Greece itself, would not be accepted.

Barroso appeared convinced that a solution for Greece would be found and confidence restored but noted that this would require a "stable government that would respect the

commitment undertaken by Greece and the other eurozone member-states," adding that it was up to the Greek people to decide whether they wanted to cooperate with the EU member-state and European bodies.