European Parliament President Warns Greece Over National Bankruptcy

European Parliament President Martin Schulz warned the Greek government it must retain its commitments towards the country’s international creditors and European partners, as in a different case Greece will face the risk of national bankruptcy.

According to Reuters, during an interview with German business newspaper Handelsblatt to be published on Thursday, Schulz highlighted that “if Greece unilaterally changes the agreements, the other side is no longer obliged to stick to them. Then no more money will go to Greece and the state will not be able to finance itself.”

Schulz allegedly insisted that the Greek government has no other choice but to stick to its program’s commitments, as this is seen as a necessary prerequisite for Athens to enter talks regarding possible concessions. As he explained, these concessions could be alternatives to tough austerity measures, explaining that he is not a fan of austerity policies himself nor European Commission President Jean-Claude Juncker. “Everyone in the European Union is prepared to make social relief possible for Greece but that can only happen on the basis of the agreements made until now,” he explained.

Regarding Greece’s Prime Minister Alexis Tsipras’ will to recover deposits sent abroad during the crisis, the European partners are prepared to help. “If Tsipras asks, we will find ways and means to make it possible and give the treasury access to assets being held abroad in other European countries. That is also true with accounts in countries with which the EU has tax agreements,” he was quoted as saying.

Finally, the European Parliament President said that if the Greek government decides to proceed with the program of reforms, then the Troika would not be needed.