Greece Can Stay in Euro Even With ‘No’ Vote, Schaeuble Tells Lawmakers

Need any more hints that Greece isn’t going anywhere? Whether its within the EU or a newly formed United States of Europe, it will be a German vassal state.

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German Finance Minister Wolfgang Schaeuble told lawmakers in Berlin that Greece would stay in the euro for the time being if Greek voters reject austerity in a referendum scheduled this week, according to three people present.

Schaeuble also said the European Central Bank would do what’s needed to protect the euro if Greeks voted against the bailout terms in the July 5 referendum, according to the people, all of whom participated in the closed-door meeting on Tuesday. They asked not to be identified, citing the private nature of the discussion.

Germany’s stance suggests that policy makers in Berlin are preparing for Greeks to reject the offer by creditors for continued aid to the euro area’s most-indebted nation. Schaeuble said in that event Greece may be able tap about 32 billion euros ($36 billion) in European Union support funding to boost its economy, according to the participants.

“Our goal remains to keep Greece in the euro, regardless of the referendum result,” Antje Tillmann, a lawmaker for Chancellor Angela Merkel’s Christian Democratic Union, said by phone. “It’s up to Greece itself to decide whether it wants to stay in the euro zone.”

Full article: Greece Can Stay in Euro Even With ‘No’ Vote, Schaeuble Tells Lawmakers (BloombergBusiness)

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