Saturday, July 4, 2015

German Official Suggests Greece Could Exit Eurozone 'Temporarily'

Martin Schultz, the president of the European Parliament, has said that Brussels is ready and willing to give Greece emergency loans if a humanitarian crisis breaks out.
Speaking to German newspaper Die Welt, he said (via Google translation):
Maybe we will have to give emergency loans to bridge to Greece so that public services can be maintained and needy people get the money. Funds in Brussels would be shortly available. [We will not] leave people in Greece in the lurch.
Mr Schultz said a no vote tomorrow would make the situation much more difficult.
If the Greek government has no more money, because the reform plans of the partners have been previously rejected in the referendum, then the situation will not definitely improve. Without new money, salaries can not be paid out, the health care system does not work, the power supply and the public transport failure and essential goods can not be imported because they can not pay [for them].
Earlier, Wolfgang Schaeuble, Germany's finance minister, also insisted that Europe would not abandon the needs of the Greek people.
Schaeuble also suggested that Greece's could exit the euro temporarily:. 
Quote Greece is a member of the eurozone. There's no doubt about that. Whether with the euro or temporarily without it: only the Greeks can answer this question. And it is clear that we will not leave the people in the lurch.He also said the Greek government's actions suggested that they did not want to reform as he described the risk of contagion from an exit as "relatively small". 
(Source The Telegraph


  1. "Socialism: sooner or later you run out of other people's money."

  2. "... if a humanitarian crisis breaks out." Of their own making...

    Five steps to Greece recovery and continued prosperity:

    1) Exit EU and Eurozone.
    2) Deport all foreign agitators and miscreants (NGO's, central bankers, Goldman-Sucks, etc).
    3) Repudiate all public debts (they'll never be able to pay back anyway so just hit the "Reset" button).
    4) Start using drachma (responsibly ie no inflation).

    And most important...

    5) Dump socialism and embrace laissez faire capitalism.

    Hell, I'd move there if they do the above!

    But Greece is so infected with socialism that the country it seems will inescapably go down the tubes. Living out their own Greek tragedy...