German FinMin Schaeuble: Greece Could Leave the Euro ‘Temporarily’



schaeubleGerman Finance Minister Wolfgang Schaeuble has suggested Greece could leave the Eurozone “temporarily.”

Schaeuble, one of the Greece’s biggest creditors and toughest critics, made the remarks on the eve of a Greek referendum that will decide if there should be further austerity measures.

The German Minister said: “Greece is a member of the Eurozone. There is no doubt about that. Whether with the euro or temporarily without it: only the Greeks can answer this question.”

He added that while some individual banks might collapse, the risk of spreading to other parts of the Eurozone is small.

“The markets have reacted with restraint in the last few days. That shows the problem is manageable,” he said.

(source: dailymail)


12 COMMENTS

  1. I think Greeks should leave to Euro. and build their economy, they have everything they need, trade with other countries such as Russia and Turkey, us Turkey to open up to Turkish speaking countries such as Azerbaijan

  2. Greece doesn’t have fuel, medicines, flour and the list goes on. What the Greeks want is a pension and a taverna. What they need is more complex.

  3. What isn’t manageable is if some other Eurozone members with much bigger economies and who too are experiencing similar economic stresses, opt to do the same. If Greece can opt out, even if it is temporarily, then so can the other member states.

  4. Actually you have a point there. Creating and furthering an Aegean Economic Union which could spread to other Mediterranean countries could, at the very least, open alternative economic opportunities for investment and trade. Turkey has become one of Greece’s biggest regional trade partners and is overtaking Europeans as primary visitors to Greek islands. In any event, Greek people we stand with you in this time of distress!

  5. German Finance Minister Wolfgang Schaeuble is just another corrupt politician.

    After the CDU was defeated in the 1998 federal election, Schaeuble succeeded Helmut Kohl as chairman of the CDU. Only 15 months later, Wolfgang Schaeuble resigned from this post as well as from the leadership of the CDU/CSU parliamentary group in 2000 in the wake of the party financing scandal,over the acceptance of cash donation of over DM 100,000 contributed by the arms dealer and lobbyist Karlheinz Schreiber back in 1994.

  6. Good point! If Greeks were to exit the Euro an Aegean Economic Union and later spreading to other Mediterranean countries would be a good alternative for providing enhanced economic opportunities. Turkish and Greek trade has always been quite productive and Turks have started to equal if not surpass European tourists to the Greek islands. During the pre-financial crisis period Greeks were known to be one of the most prolific tourists in Turkey. Supporting your neighbourhood is good political-economic management.

  7. Since Mr Wolfgang Schaeuble was only voted in by his fellow Germans surely he should have a say in German matters only. I don’t believe he represents Europe & I don’t believe Germany is Europe. (Germany is only one country of Europe, just like Greece is). Calm down Wolfgang, in the end we’re all just people.

  8. Whether Germany will provide any more money to Greece IS a German issue! 78% here are against that. Schäuble is doing his job. Greeks should go elsewhere with their brazen demands.

  9. Totally to the contrary, this is very unpopular here! That’s why Merkel’s initiative to keep Greece in the Eurozone has been criticized domestically riught from the start. Many here think we should keep out of the problems of other countries. Nothing but worries inhis for us.

  10. Well it was rather brazen wasn’t it that having laid waste to Europe between 1939 – 1945 Germany was then granted a 50% haircut on its debts to its foreign creditors, at the Feb. 27, 1953 London Agreement on German External Debts. One of those creditors that agreed to forgive 50% of Germany’s foreign debt despite having suffered under German invasion and occupation was Greece. I can just imagine what the German response would have been if the roles were reversed, i.e. if Greece had invaded and occupied Germany, and then requested debt forgiveness to the tune of a 50% haircut. Look, the Greek people and German people are both beautiful, fantastic, generous people, the German people have no blame in this crisis (the same is not true for German politicians, media, and corporations), but I do hope that someday soon this sad conflict largely exacerbated by the media in both countries will end, however it takes some degree of humility from BOTH sides for this to happen.

  11. According to a November 2012 report published by Deutsche Bank Greece may possess ‘3.5 Tcm’ of natural gas worth ‘USD599bn’ (2012 prices) and this is just for the region south of Crete, this does not include massive potential oil and natural gas reserves in the Aegean sea, the Gulf of Patras, and to a lessor, though still sizeable extent in the Ionian sea. Greece is also at a strategically geographic location where it could serve as a Gas transit hub for gas being piped from the caucasus region, caspian sea region to Europe via Greece, as evidenced by the recent initiative between Greece and Russia to develop the TurkStream pipeline.
    https://greece.greekreporter.com/2015/06/16/greece-and-russia-to-sign-political-deal-on-turkstream-extension/

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