Eurogroup President: Greece Can Choose to be Either North or South Korea


On Friday, during an interview with a Dutch TV network ,Eurogroup President Jeroen Dijsselbloem presented the choice he believes Greece must make.

“Ultimately, it is up to Greece whether it will become North or South Korea: absolute poverty or one of the richest countries in the world,” he said.

The Eurogroup president spoke on the corrupt and inefficient Greek governments that have ruled for decades and noted that it will take a different and honest government for Greece to recover.

Dijsselbloem also recognized that the implementation of the third bailout’s agreed reforms will be very tough.

Greek Bailout Work Must Move Forward

Dijsselbloem also issued a warning to all the sides involved in the Greek bailout.

Prior to Saturday’s unofficial Eurogroup meeting on Greece, he noted that the work of the third Greek bailout must continue.

Greek politics are currently captivated by the September 20 elections. The Eurogroup President noted that both the international creditors and Greece must move forward with the necessary actions, despite the elections. Creditors should prepare the evaluation of the bailout, which according to reports will take place in October, while Greece must continue to prepare for the implementation of the program.



  1. Absolute poverty? Don’t we have that already. Jeroen you fool, thanks to you and the other EZ clowns we are almost North Korea, Tsipras’ capitulated reforms on farming means we will be eating grass and herb soup. Since we already dine on dandelions, perhaps the EG President can share with us popular North Korean grass recipes. The man’s arrogance is appalling.

  2. Dear Greek people: This American hopes that you will stand fast to your principles, and reject the fascist takeover of your economy, your government, your livelihoods. In my opinion, the central banksters have gone beyond austerity in your case, and now seek to set you up as a threat-example to other governments which don’t toe the line. You should stand strong and show the way to the rest who are watching.

  3. The usual dose of Polycrates nonsense!
    Capitulated reforms in farming he says?!
    We either join the European flock and learn to be competitive, meaning that we stop giving subsidies paid for by other citizens through their taxes, or eating grass and herb soup will become a luxury.

  4. Once again you didn’t do your homework. I will NOT tell you which “reforms” affect farmers and impact food production. That lesson you will have to learn entirely on your own.

  5. What an amazing achievement by Mr Dijsselbloem he became the President of the EuroGang without getting a single vote from any European Citizen.
    That is Democracy in the 21st century.

  6. Good luck Greece, if you can stand up to these Europeans that wish to destroy you, you can not be threatened by somebody if they cared about you.

  7. He is stupid, arrogant and poorly educated — not to mention a fake Master’s degree from Dublin. Most of the eurogroup are second-rate crooks — worms who have burrowed their way into the political system. They don’t have the ability to be real-world crooks (like the mafia), just indolent and corrupted politicians.

  8. My friend Polucates, you are like the politicians from the extreme parties. You never answer questions, you ignore answers to your own queries that give documented facts, and you throw around slogans and innuendos in the style above. You are rather funny actually, but I don’t think any educated person takes you seriously.
    You asked me sarcastically in another thread where austerity has worked. I answered Ireland, Spain and Portugal, actually Greenland too .. any response to this, haha?!

  9. What an incredibly provocative & saddening statement. It actually sounds more like an ultimatum. Even North Korea doesn’t have capital controls!
    The Germanic countries are now showing an arrogance that hasn’t been seen since before the second world war.

  10. This man is very intelligent…What we fail to see is that he had Mr Varoufakis removed because he told him that what he proposed will not work and told him to his face which is the truth.
    He is going to get Syriza removed which he has accomplished and we will most likely get a government that they want which will be a combination of parties and they will implement what they want. But what Greece will not get is any companies to open up in Greece because the simply point is our corporate tax rate is at 29% whilst our neighbours is at 10 to 15% so we are guaranteed to fail no matter what. The North now have the cheap labour they require from the refugees entering europe so why do they need to move?? Greece is doomed unless we get a reduced company tax rate so we can compete…and a reformed public sector…Its not nice but its the truth.. This guy is bad news for Greece..

  11. Once again this man is right, only hysteric egocentric mentally 5 years old kids do not understand it. Greece can become a rich country if get to work, reform itself and stop whining.

  12. When I saw your comment I immediately thought this person has no idea but I then realised you’re being sarcastic. Having the mentality of a 5 year old egocentric is the perfect description of Dijsselbloem.

  13. Paul, why do people such as yourself insist on throwing meaningless slogans around which only serve to lose credibility for their author when the truth is documented.
    The European Council, whose 28 members (one from each State) are elected, vote for the nomination of a “President” of the European Commission which is then subjected to the European Parliament for majority vote (a minimum of 376 MPs).
    All these MPs have been elected by their respective countries.
    In the same manner, a political party votes its leader internally before submitting the party to national vote. How else do you want democracy to work?
    Do try to articulate some constructive, documented comment on these pages, to raise the level of discussion.

  14. Sorry Cretan I didn’t realise you were voted in as the leader of this forum.
    Don’t brand me a Marxist and threaten to send me to North Korea again.
    By the way Dijsselbloem was voted in by fellow politicians (the boys club). Don’t fool yourself thinking that is democracy.

  15. you might wanna go outside greece, to countries like albania, bulgaria,romania where minimum wage is 100 euro something.

  16. it didnt work in any of them, their growth rate is lower than prior the crisis and the depression continues with high unemployment. What actually happened is that they artificially made the situation worse with austerity so everyone had to learn to live with less and work for less, aka “be more competitive” so they managed to show growth while they artificially put themselfs in a worse situation. The “growth” they got is nothing compared to what they should have, you accuse him of acting like a politician with extreme views that dodges questions and pushes imaginary victories but in reallity you just did the same.

  17. pfttt there was a american investigator that usa send to asses the situation after the war, he found out that “greece is controlled by a few elite that will not even stop at bankrupting the country in order to keep their priviliges.”

    before the crisis 1% of the country owned 46% of the wealth now it is on 56%

    You cant stop new world order, the rich will get richer and the poor poorer. Your founding fathers said it themselfs if you give power to the banks, your children will find themselfs broke on the streets.

    The only way you can change this if you get everyone together and have them tear down the system it is now easier than ever thanks to the internet, but ofcourse everyone has gotten cozy and got used to how things are or they are afraid of change, it has to be global because everything is connected, you cant buy anything unless you have already paid the global markets aka stocks.

  18. even in ww2 the banks didnt close said my grandmother, but you know the saddest thing is hitler took a forced loan from greece with the first payment officially fulfilled but the germans wont pay that back.

  19. “Greece can become a rich country if get to work, reform itself and stop whining.”

    You knowledge of economics is very simplistic. I dont dissagree on the “reforms” but some o them are nonsensical like another guy said if taxing on corperations is so high why would anyone invest in greece?

  20. One significant fact in the contribution above regards the insane measures imposed on people wishing to invest and run a business in Greece. In addition to the corporate taxes, opening a company for a foreigner in our country is an excruciatingly painful experience.
    I have two friends and colleagues that tried this, their experience was at times comical but tragic too. I was truly embarrassed to hear the stories of why they abandoned the idea and left. Both of these would have employed 10 to 15 people full time, not an important number, but just multiply that by the thousands of others that have tried it too and left in desperation.

  21. .. and yet, every word is true! On the one hand we claim that our politicians are corrupt and our bureaucracy useless, and on the other we plead offense if anyone else dares to mention it. We have only ourselves to blame for our predicament, let’s stop whining, stop fighting each other and get down to work.

  22. No my friend, this is not a monologue, and in a democracy we have the “right of response”; if you make misleading comments, I or someone else will correct you, as I expect from others for myself.
    You either ignore what I have written or do not understand it, or it may be just another attempt to pull wool over the eyes by introducing sarcasm or a change the subject.
    Read carefully, once again – the “boys club”, as you call it, is composed of twenty eight voting council members. They are all elected individually by each European Country (yes, haha, one from Greece too, or maybe you did not know that).
    if you don’t approve of the kind of democracy practiced by the European Union then indeed there are other options, but you will not be permitted to make such slogans long before being silenced for good in the majority of these.

  23. Cretan tends to be a little overzealous without having all the facts. The problem is he/she doesn’t want to know but enjoys just being argumentative. If they spent a little time on the issue I have no doubt they will come around…..unless of course they are German or a Turk.

  24. We have gotten older lazier and apathetic. There are many more of us seniors than younger people thusly there is resistance to change…..until events overtake us and then panic.

    Two days have passed and Stephen can’t come up with an answer to my simple question concerning a Fascist takeover. Why, who knows, maybe he thought is sounded “acceptable” but the lack of response suggests he doesn’t have a clue.

  25. bailouts by definition (privatize profits socialize losses) are fascism

    threatening to destroy and entire banking system and country unless you sign on the dotted line is fascism

  26. What an amazing thing to write! It reminds me of my schooldays, when they used to say “that’s the way it is, I say so and you find out why”!

  27. You again. You’re a campaign slogan for the EuroGang (the Boys Club). Why are you calling yourself Cretan. A more appropriate tag name for you would be Berliner or even Bavarian because you are definitely not a Greek living in Greece.
    One member out of 28 is representing Greece, that is a recipe for getting short changed. 27 members are representing their respective countries and don’t care what is best for Greece. So, how does this formula help Greece unless you really do believe Greece should sell all her assets at bargain prices to mainly German companies. OR a 29% company tax a real incentive for businesses to start operating in Greece. Are you operating a business in Greece? Do you have any idea how hard it is now to make ends meet?! I myself have thought I might have to close down and relocate if I am to survive and there are thousands of other business owners here in Greece who are thinking the same way. So if you really think the EuroGang have good intentions for Greece you are totally DELUDED!

  28. Resorting to personal attacks in an academic argument is a sign off vulgarity, I ask you to refrain.
    As usual, your answer is absurd, All European countries have one representative on the European Council, that is how democracy works. The whole point of democracy is to defend the interest of the majority.
    Whether assets should be sold or not is not in the discussion, you introduce that as usual in order to “drown the fish” by changing subject. That said, I too had personal debts and yes, I sold paintings present in my family for three generations, in order to honour my commitments. That is how honourable people and nations behave. That said, the companies in private hands, whether Greek or foreign, will be better run, and this will lead to re-employment and more income for the state.
    As for the high taxes imposed on business, yes they are grotesque (again out of context) as are the absurd administration procedures necessary to open a new company, especially for foreigners, many of whom quickly become discouraged, seriously limiting investment in our country.
    As for Europe having interest in helping us, apart from the obvious strategic reasons for doing this, they will lose all the payments on our debt if they do otherwise and we default. So obviously they will do everything possible to keep us in the Eurozone. My ten year old son understands this and all the “conspiracy theories” practiced by uneducated and narrow minded people are a waste of time.
    I will only answer you again if you express your opinions like a gentleman. We may have lost our money, we can nevertheless retain or dignity.

  29. Stalin’s Politburo purges and in his dealings with Finland had the same sign on the dotted line or else policy.

  30. You really know how to dish it out but when someone questions your nationality you become very sensitive and irrationally claim it’s a personal attack. I’m a Greek who lives in Greece and I run and have been running my business a long time and I know what many Greeks are thinking & feeling and your thoughts from afar are way off the mark. I totally agree with you that Democracy is there to defend the interest of the majority, so why isn’t the interests of the majority of Greeks who voted ΟΧΙ in the recent referendum defended.
    I hope you’re not suggesting anyone who doesn’t agree with you is uneducated, otherwise you might as well monologue in front of the mirror.
    Thank you for your time.
    The End.

  31. It’s called the Socratic method of teaching applied in major universities around the world.