Greek Finance Minister: Greece Being Forced Out Of Eurozone – UPDATED

The Guardian’s Ian Traynor and Larry Elliott offer details. Based on the information given, it would be difficult to say that Greece’s finance minister Evangelos Venizelos is wrong:

The charge that some eurozone countries were seeking to engineer a Greek sovereign default and exit from the euro deepened the rancour between debtor and creditors in the dangerous standoff.”There are many in the eurozone who don’t want us any more,” Venizelos declared at a meeting with President Karolos Papoulias. “We are constantly being given new terms and conditions.”

Papoulias went even further, denouncing Germany and Greece’s north European creditors after Wolfgang Schäuble, the German finance minister, said that Greece must not turn into a “bottomless pit” for eurozone bailout funds and that Europe was better prepared than when the crisis erupted two years ago to cope with a Greek sovereign default.

In the paragraph following that one, President Papoulias reacted to the German declaration as if to a personal insult. The whole dialogue does not bode well for a reasonable negotiated settlement. And whatever comes of it, heaven help the Greek people.

NOTE: the previous post on Greece is about to scroll out of the time period where comments are allowed. Please resume comments related to Greece on this new post instead.

AFTERTHOUGHT: SouthernDragon of FDL offers two more links to articles on Greece: The Greek Experiment (an excellent video of Paul Jay’s interview of Michael Hudson on The Real News) and (by the esteemed Margaret Kimberley of Freedom Rider) Greece: Your Money Or Your Life. Here’s Kimberley:

… Of course pensions and wages have been cut, and thousands of government workers will lose their jobs. Capital is the priority on the agenda, but human beings don’t even make the list. Not only will Greeks have to lose their livelihoods, but they will no longer be protected by government regulations. The MOU clearly states that baby food will no longer be inspected for safety. The baby is indeed being tossed out with the bath water.

IMPORTANT UPDATE: the Guardian business blog is running a live auto‑updating site on the eurozone crisis. H/T Enfant for the link.

Advertisements
Post a comment or leave a trackback: Trackback URL.

Comments

Leave a Reply (NB: I'm not responsible for any ad!)

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: