Greek Energy Minister: We Have a Plan B, We Don’t Need EU Money


Greece has a Plan B and does not need European Union money, said Productive Reconstruction, Environment and Energy Minister Panagiotis Lafazanis.

“The situation is very difficult but we shouldn’t allow [creditors] the opportunity to exploit us,” Lafazanis said to Russia 24 television channel.

The Greek Minister gave an interview to the Russian state-owned news station and said that the Greek government has a Plan B in case the European Central Bank (ECB) stops liquidity to Greece but he refused to give an outline or specifics about the plan. He said it is too early to unveil the plan because negotiations continue and Greece wants a beneficial solution within the European Union.

“The lack of funding from the European Union is not the end of the world. There are other sources of funding,” the Greek Minister said.

Lafazanis said that Greece is not collapsing because banks are closed. “It is not so. Yes, banks are closed, but you can see that in Athens and other cities life goes on as usual,” the Greek Minister said. “Yes, we shut down banks, but not on a whim. In the last few years, Europe has been using the wrong policy toward Greece. Now they don’t want to continue the Emergency Liquidity Assistance. We were forced to defend our people, people who have savings in the banks, so that our country can progress in the future.”

The Greek Minister further said that “the blackmailing techniques the European institutions are using have a specific purpose. They want our government to take measures that will bring us to our knees… The banks may be closed but we don’t have fuel or food shortages.”


  1. This guy is a liar, plain and simple. There is no Plan B as there is no one in the Greek government intelligent enough, experienced enough, with the management skills to implement a Plan B.

    How Greeks could elect such incompetent fools is beyond me. If Greeks vote “no” on Sunday they deserve to suffer their fate, as it would be pure stupidity.

    Now is not the time to leave the euro for Greece. Greece must become much stronger financially before it attempts to leave the euro. January, they could have done it. NOT NOW.

  2. Our communist government’s “plan B” is same “plan B’ the Marxists Cuba and North Korea took in the sixties. A study diet of empty cold war communist rhetoric about how much Marxist care about the people — as country turns into a 3rd world nation because they are against free enterprise. Given the election of Tsipiras clearly many Greeks are self-righteous morons that fall for it.

  3. I am sure that this news will be welcomed by pensioners waiting in long queues, fainting
    outside banks in the baking heat.
    Should they apply for their pensions in person at your private address?

  4. I agree, funny how Tsipras is sending letter accepting creditor terms and his minister saying we don’t need Europe money, that they have plan b etc. I think Greek public are turning on the government. Hey Viper where Putin now? the only one offering to help Greece was the Turkish Prime Minister

  5. No creditor worth his salt is going to continue lending indefinitely to successive Greek governments who have an endless propensity to overspend.

  6. Portuguese unemployment rate in 2015 is 13.7% and 33% amongst Portuguese youth which is horrible. Portugals National debt stands at €273 billion equivalent to 130% of GDP.

    Greek national debt is expected to reach 180% of GDP this year, and is a mountainous €323 billion, whilst the Greek unemployment rate in 2015 is 25% (50% amongst the youth) which is catastrophic.

    How can anyone possibly believe that a nation with a 25% unemployment rate can repay a debt of €323 billion (approaching 180% of GDP)?

    There needs to be a humanitarian pause in repayments coupled with a thorough audit of Greece’s National debt to determine which portion is illegal, with the illegal portion deleted. Realistically there needs to be significant and meaningful debt relief to enable Greece to extricate itself from this debt crisis. Portugal should take similar steps.

  7. The SYRIZA-ANEL coalition regime supported extending EU sanctions on Russia, so how can President Putin provide financial assistance to Greece under these circumstances?

    If Alexis Tsipras made a positive gesture to President Putin by vetoing EU sanctions on Russia, it wouldn’t be long before Putin responded with significant assistance in the form of investments, especially in the Oil & Gas sector where Greece has gargantuan untapped hydrocarbon reserves that could soon transform Greece into a major energy exporter to Europe, and the world!

    If the Hellenic people granted Golden Dawn the honour of governing Greece, Golden Dawn would immediately veto EU sanctions on Russia, ban the US Navy from operating out of Souda bay in Crete, engage with Gazprom to extract and market hydrocarbons in the Greek EEZ, commence regular joint aeronautical exercises in the south Aegean sea for Greek and Russian armed forces, and organize for the permanent installation of the Russian fleet in the Aegean bases of Syros or Poros.

  8. Sadly Cidalia the Greeks don’t see it that way. They think EU owes them something. It’s not Europe fault they elect bad governments, have corrupt officials, don’t pay taxes and misuse of EU funds. They were sold down the river with fault promises by Tsipras and sadly the Greek people fell for it. No enquiry set up in Greece to find who was responsible for the mess, like previous government etc, no accountability, So the best thing for them is to blame everyone else outside Greece for their mess.

  9. Always interesting reading posts on this site the adjectives carelessly scattered amongst the few words of wisdom bare little resemblance to any logical thought process being used firstly we have Phil /Viper et al whose brains only see right must be difficult for you guys when you drive then we have the random Albanians / Macedonians who see putting the Greeks down as a national sport
    Occasionally someone actually makes a comment relevant to the article but this so rare I usually only read the comments to use in my stand up comedy routine
    I know its difficult for some of you to get past the rhetoric ( I mean you Phil) but I find it hard to get past the fact that this government unlike all other governments has give the people the right to chose there future , this is what democracy should be
    I am trying to understand why he is a liar all they have said from the start is they will not accept the shackle that the incompetents who used this nation as a piggy bank for 50 years willing took on

  10. Well, I have two graduate degrees. One in aerospace/ aeronautical engineering, and the second in architecture.

    Greek universities only require 4 years to become a Greek architect. The U.S. requires 8 years. In addition, U.S. engineering, and construction technology is light years ahead of Greece’s. I’ve designed and BUILT buildings over 50 stories (floors). That alone puts me way ahead of all Greek architects.

    As for aerospace/ aeronautical engineering. Greece has no such university curriculum.

    So it’s not a matter of thinking I’m educated. I have the degrees to prove it as fact. U.S. universities are ranked far ahead of all the world’s universities. China even sends their brightest students to U.S. universities.

    In addition, my degrees are a lot more difficult, and prestigious than what Varoufakis, and Tsipras have combined. Plus I have 40 years experience to go along with those degrees.

  11. I guess the light bulb will never come on in what is referred to as a brain, for some of you Greeks.

    I’ve used this as an example numerous times, and it still goes over the Greek’s heads.

    The Greek Reporter did an excellent article called “Governments change, Greece remains the same”. It’s the best article I have read on Greece, and so true. Yet Greeks just don’t get it.

    What that article basically states is it doesn’t matter who’s in power in Greece. Whether it’s the left, right, center, upside down party, it doesn’t matter because nothing changes and Greece is always on the edge of economic ruin. NOTHING CHANGES.

    Here’s another one. Einstein defined insanity as repeating the same thing over, and expecting a different result. That falls right in to what The Greek Reporter was saying.

    When you have a problem in business that keeps occurring, you CHANGE TACTICS.

    Greece MUST tear up the old laws regarding businesses, and taxes in Greece, and start over. Because until that happens, Greece will continue to fail, and nothing will change.

    Some Greeks want to leave the euro currency ? Fine. But Greece can’t do it now because it has no infrastructure to generate income for Greece. I have said from the beginning of the EU, that the EU, and the euro currency will fail. It will. Unfortunately Greece is stuck until it builds an infrastructure.

    The IMF debt will NOT go away. Just ask Argentina. The IMF will go into an international court to validate their claim, get a judgement against Greece for the unpaid amount Greece owes. Then when Greece tries to import products from another country which it must pay for in cash, the IMF will be right there to seize that cash. The IMF will continue to do that until the debt is repaid. So for the next decade at least Greece will be in severe recession, or depression.


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