There they are at the Eurogroup meeting on Thusrday, Feb 9, 2012: German Finance Minister Wolfgang Schaeuble and his counterpart from debt-ribben Portugal, Vitor Caspar. The two men speak with a low voice, secretly. In fact, it is the German FinMin who gives the tune and the Portuguese bows his head approvingly.
Schaeuble: “If then there would be a necessity for an adjustment of the Portugal” program, “we would be ready to do that.”
Gaspar: “That is much appreciated.”
Schaeuble tells Caspar: it is “key” that any decisions on Portugal’s program are made “after a substantial decision on Greece.” And: “Members of the German parliament and public opinion in Germany do not believe that we are serious about our decisions, because they do not believe that we are serious about Greece”.
This dialogue, not matter how secret, was filmed by Portuguese TV station TVI and broadcast in the Portuguese media and on YouTube. Some of the words are not audible.
Video: Schaeuble/Caspar…
embedded by Embedded Video
YouTube Direkt
“It is the first time a top European official has said there is now a case for making changes to Portugal’s bailout program despite a worsening economic situation in the country. Coming from Germany, the euro zone’s most powerful member states, the comments have extra weight. Until now, European officials have publicly said there is no question around Portugal needing more help…. The comments are nonetheless embarrassing to Schaueble. He signals to Gaspar that any Portuguese decision must await the resolution of the Greek situation because German parliamentarians and public opinion is skeptical about the government’s handling of Greece’s situation.” (DowJones via NasDaq)
Caspar tried to downplay the conversation saying there was nothing new said during the conversation. He later told Portuguese media, the government isn’t seeking a readjustment of its program.
On Feb-9 meeting, the fincence ministers of the eurogroup were supposed to decide on the second bailout for Greece. They didn’t. But tied further the rope around the Greek neck.
Additional source in German: Deutsche Mittelstands Nachrichten
Is this not the truth? Who on earth can say that this is not what is happening?
http://youtu.be/n7KaDXFsDis
Realistic point of view:
“Members of the German parliament and public opinion in Germany do not believe that our decisions are serious, because they don’t believe in our decisions on Greece.”
The german politics is serious in their decision saving the banks.
Btw. not only Portugale is looking in direction greece:
http://www.reuters.com/article/2012/02/08/ireland-ecb-idUSL5E8D89QY20120208
“If the ECB are prepared to make this kind of concession to Greece it would encourage me to think that they might be ready to make concessions on the promissory note to Ireland,” Finance Minister Michael Noonan told state broadcaster RTE.
“I see it, if it occurs, as a strengthening of our negotiating position.”