Eurogroup head Jean-Claude Juncker told Germany’s Spiegel magazine in an interview pre-released on Saturday that help for Greece won’t be coming at any cost and explicitly threatened the country with bankruptcy if it doesn’t get its act together.
He said, should Greece fail to implement necessary reforms, then it should not expect acts of solidarity “to be rendered by others.” He goes on, “if we should determine that everything is going wrong in Greece, then there would not be a new program, then that would mean that in March a declaration of bankruptcy would occur.”
The mere possibility that such a thing could happen should give the Greeks muscle to follow through on areas where there is paralysis at the moment. Juncker reportedly says that planned privatization of state firms remains clearly behind agreements. “Greece needs to know that we will not let up on the topic of privatization.”
(source: Dow Jones, Spiegel)
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