"The president of the European Commission has risked angering Britain after comments warning that the "Anglo-Saxon world" would seek to dismantle the European project if Greece was ever allowed to leave the single currency.
Speaking to an audience at at the Catholic University of Leuven in Belgium, Jean-Claude Juncker said a "Grexit" would expose the EU to "huge danger" leaving the euro prey to forces who "would do everything to try to decompose" what remained of the monetary union.
“Grexit is not an option," said Mr Juncker.
"If Greece would accept it, if the others would accept it, that the country would exit the zone of security and prosperity constituted by the eurozone, we would be exposed to huge danger, because the Anglo-Saxon world would do everything to try to decompose, at a regular rhythm, apartment by apartment, of the eurozone." Article today in the Telegraph here.
So, let's look at some facts "“Grexit is not an option," said Mr Juncker." Greece is up to it'e eyes in debt and has been bankrupt for some time. It will never be able to repay the debt, ever. Not only that it needs to borrow huge sums of money in the very near future just to stay afloat. Clearly this means for Greece not to exit the EU, issue it's own currency and devalue, other EU countries will have to continue to give money to Greece. Give is the word, because it will never be repaid.
Eddie
3 comments:
Nigel nails it with his best put-down of the undemocratic superstate.
https://youtu.be/wHvTq6Bf_pg
The lunatics truly have taken over the asylum.
Geoff J
Spot on Geoff, and five years before the shit hit the fan big time.
Eddie
I recently commented on other attempts to micromanage something very complex by bureaucracy. As time goes by, their inability to do it will be more noticeable, unfortunately for everyone. Feel free to extrapolate my opinion on NHS. Somehow an individual doctor in genera is much smarter than the same doctor guided by regulations and a higher organization, and the bigger the organisation, the less effective the management. Imagine it now on a European scale, and change subject from medicine to economy.
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