Monday , December 18 2017
Home / News / Politics / Eurogroup Juncker Warns Greek Voters of “Unforeseeable” Consequences for EZ

Eurogroup Juncker Warns Greek Voters of “Unforeseeable” Consequences for EZ

I upload this post just in case you have missed some internvention from abroad to the democratic procedure of free Greek elections. Eurogroup head Jean-Claude Juncker warned Greek voters no to turn their backs to euro. Speaking to Austrian newspaper Der Kurier, Juncker claimed that “a win by anti-bailout radical leftists in a vote on Sunday would have unforeseeable consequences for the monetary union.

Yeap! Good old-boy, Jean-Claude, a trade unionist by profession,  tells Greeks that the Euro zone would collapse if they vote for SYRIZA. Why should Greeks listen to him???

Juncker Recommends: Half a Vote to SYRIZA

“If the radical left wins – which cannot be ruled out – the consequences for the currency union are unforeseeable,” Juncker, head of the group of euro zone finance ministers, told Austrian paper Kurier.

“We will have to speak to any government. I can only warn everyone against leaving the currency union. The internal cohesion of the euro zone would be in danger.”

In addition to the economic and social consequences for Greece itself, an exit would damage the entire currency union, he said, adding: “This has to be avoided. This would send a devastating signal. The Greeks must be aware of this.”

No matter who wins the vote, Juncker said, European leaders would have to quickly address Greece’s reform programme with the country’s new leadership. “A third election would not be a solution.”

He made clear, however, that renegotiating the substance of the conditions for international aid to Athens was out of the question. (Full article Reuters)

I assume that our Juncker is angry for having to spend next Sunday hanging on the phone with ECB president Mario Draghi and EU Ec&Mon Commissioner Olli Rehn, while waiting for the Greek elections results.

Grim Sunday perspective: Chat with Draghi & Rehn

Instead of issuing meaningless and undemocratic warnings our EU- and EZ- chiefs should better start working on a Euro-crisis solution and stop spending  European taxpayers’ money on chatting of the phone and holding meetings that lead to nowhere.

Juncker: “Greeks?”

 

Check Also

Tusk to propose scrapping refugee quotas scheme, EU may accept

European Council president Donald Tusk is to tell the EU summit on Thursday that the …

38 comments

  1. yeap. But meaningless meetings are sooooo much easier than having to think about actually doing something. And, they look good on TV…

  2. All these statements that Greece holds the fate of the EZ, the world, the universe and beyond, in its hands. My response is to question why the system was set up in a way that a very small country with obvious problems could have this result. The people and institutions that did this have zero credibility, and we should not look to them for answers.

  3. We should indeed not look at them for answers, but then, when we look elsewhere they go totally ape-shit. As in this guy Juncker, FTD, Schauble, Fekter, the whole lot of them. And if we do look at them for answers, we get
    “This is a very bitter election for the Greek people. They are being asked to support the old guard that got them into this mess.”
    Now why would the Greek people have to “support the old guard that got them into this mess”? Could it be that Mr. Juncker, Merkel, Schauble & Co, and all the others are all part the old guard and don’t want to admit they are wrong and God forbid may even losse their cushy little numbers telling everybody else what to do and how to think? The assylum run be the lunatics!

  4. Only in Greece does the statement “we have a nuclear bomb” seem plausible. Outside Greece it just sounds ridiculous. The EU is the largest economy in the world. It will be hurt if Greece exits the EZ but not mortally wounded. The only people that believe otherwise are SYRIZA voters.

  5. You would do well to define the problem properly before starting yet another pointless rant. Greece is not the problem. It is part of the problem, together with Spain (The EU has already admitted the 100 billion is far from enough, another 400 or so will be needed), Ireland (the IMf admits this weekend that Ireland will need a second bailout), Portugal (The Troika admits that Portugal will need a second bailout), Italy (paying interest of 6.8% so far, remember 7% is the magic number. Trading in “blue chip stocks” like Telecom Italia, Fiat Italia, Intesa all halted (11-06-2012), Dutch and Belgian banks downgraded today, Slovenia looking for a bailout (http://www.zerohedge.com/news/slovenia-spain-another-european-countrys-bank-bailout-way)…. The French admit their banks have a hole of somehwere around 66 billion €, the British admit their banks are hiding debt of around 40 billion £, and good old H.W. Sinn exposed a hole in the German financial system of no less than 1 trillion €. Greece doesn’t have a nuclear bomb, and it doesn’t need one. A fire-cracker will do…

  6. @Ephilant
    —–
    “Spain (The EU has already admitted the 100 billion is far from enough, another 400 or so will be needed)”
    —–
    I wonder, would you be able to back up this statement with some credible link(s)?

  7. Every time Juncker opens his mouth to a journalist, the following phrase from Latin in school comes to mind:

    “Si tacuisses, philosophus mansisses!”

  8. I also meant to send this link http://www.guardian.co.uk/business/2012/jun/11/question-answer-spain-banking-bailout and a correction to my cut and paste error. It is not an EU admission, it is the European Economist for Capital Economics who admitted that Spain will need more money.

  9. keeptalkinggreece

    ΟΜG!!! Me not likez so much linkZ

  10. keeptalkinggreece

    meaning?

  11. “If you had remained silent, you would have remained a philosopher.” Better would have been: Ego sum ​​questus male et lassus de hoc excors. Or still better: Posset aliquis iustus clausa hoc excors usque, placita? 😆

  12. “If you had kept your mouth shut you would have remained a philosopher”.

    http://klauskastner.blogspot.gr/2011/07/letter-to-mr-jean-claude-juncker.html

  13. If you had kept your silence, you would have stayed a philosopher.

  14. sorry!

  15. Be careful! Latest news: LAY DAY…MAY DAY..MAY DAY
    EURO IS COLLAPSED… EURO IS COLLAPSED…
    EURO IS COLLAPSED…
    They are bluffing. Vote for Syryza.

  16. Here’s another dreaded link (Sorry KTG). http://online.wsj.com/article/SB10001424052702303734204577468773839483152.html?mod=googlenews_wsj

    One sentence near the end of the article speaks volumes. Mervyn King, Governor of the Bank of England flatly states that the real problem for the Eurozone is a problem of insolvency. And he doesn’t even blame Greece for it 🙂

  17. keeptalkinggreece

    are we her ein a Keep Talking Latin blog?

  18. It has been understood since 2008 by any respectable economist that the global banking crisis is the real problem, and the eurozone is cracking under the stress because it is a flawed system.

    The Germans refused to accept reality and decided to blame Greece for it. Their arguments were abject nonsense, and they persist with their malakies even when half the eurozone is collapsing.

    Essentially, the banking crisis mutated into a sovereign debt crisis because Germany and France chose to make it that. The natural course of developments would have been collapse of banks, instead of entire economies. Still, the Germans are too pig-headed to admit to their stupidity and carry on regardless.

  19. One day while Chicken Little was walking under a tree, an acorn fell on his head. Immediately he thought to himself: “The sky is falling down. I must hurry and tell the king.” Along the way he met some friends named Henny Penny, Ducky Lucky, Goosey Loosey, and Turkey Lurkey.

    They also became excited as Chicken Little told them that the sky was falling down. As they proceeded to the king’s palace, they met a villain named Foxy Loxy. As Foxy heard the story from the excited group, he suggested a short cut to the king’s palace. Being gullible little farm animals, they followed the fox to his cave and were never heard of again.

    Possible conclusions?
    (1) Don’t believe people who tell you the sky is falling down (or Greece is leaving the euro)
    (2) Don’t take advice from foxes (or German politicians, the IMF, stinking rich people, etc)

  20. keeptalkinggreece

    haaaaah! Nice Chicken Little story! Never heard before!

  21. @Ephilant
    “… It is not an EU admission” — OK, that is what I thought also – hence the request for some credible proof.

    Let’s continue the linkz fest .. Reuters has compiled some nice statistics including a “bank exposures map”, based on relatively recent data, here it is:

    http://graphics.thomsonreuters.com/F/09/EUROZONE_REPORT2.html

  22. good one xenos. Is this what we Americans say, “Don’t let people piss on you and try to convince you it’s raining?”….

  23. No f*** word, refrain myself, no f*** word …

    -fx

  24. Is the chicken little story only known to British kids then? I thought you yankees also knew it.

  25. You mean this is NOT the Servare Loquentes Graecia blog?! 😆

  26. keeptalkinggreece

    well done 🙂

  27. keeptalkinggreece

    Regina Rosas Amat…Blog speaking

  28. I’m rather reminded of a dialogue in “The Tresure of the Sierra Madre”
    http://www.imdb.com/title/tt0040897/quotes?qt0356606

  29. You are absolutely right. Merkel and Schäuble are largely to blame for this mess. In German media it seems strictly forbidden to even mention the word “Banking crisis”.

    They shoved all the money to the banks and soon after that it was all the fault of the countries and their enormous debt – while some of this debt would not even exist if they hadn’t transfered so much money to the troubled banks.

    And now they say “We have all (meaning the tax-paying people of their nations) enjoyed a standard of living that was higher than we can afford. We now have to cut back social programs etc.”

    Unfortunately many, many people don’t even realize that they are being screwed and they rather swallow the propaganda like “The Greeks are lazy” and such nonsense.

    But it’s all part of an agenda: They absolutely want the European nations to lose most of their sovereignty. The idea of “The United States Of Europe” is something that’s quite popular among German politicians and their media propagandists.

  30. Yeah, but now I’ve an ulcer !

  31. Our European partners shouldn’t worry about the SYRIZA and the other left and extreme left leaning political parties. They aren’t going to participate in a government of national unity because of political cowardliness. They have demonstrated that their preferred strategy is to talk, criticize other politicians, offer no realistic solutions to Greece’s problems, and avoid governance and political responsibilities. It has been a successful political strategy and see no signs that they’re inclined to change it.

    The Greek economy is like driving a car. The New Democracy and the PASOK while been behind the wheel have driven the car recklessly. They have crushed it and committed many violations of the rules. Now both parties are seeking another chance to make things right. The political parties of Syriza, Democratic Left, the KKE, and the Independent Greeks not only don’t know how to drive the car but also are stubbornly unwilling to learn. If during the June 17 elections the New Democracy and the PASOK don’t get a combined total of 151 seats, barring any surprises, then new elections will become inevitable.

  32. keeptalkinggreece

    write them down on a seprate paper

  33. The Greek economy is like driving a car? Where did you get this crap from?

    And even if we accept this stupid analogy, your idea that the bad driver who caused a fatal crash should be allowed to drive again, and nobody else should ever be allowed to drive it… ???!!!

    PULEEZ… try to engage your brain (gears) before driving!

  34. Yeah, yeah. And I am fond of euros. So we both don’t have what we are fond of… 😆

  35. keeptalkinggreece

    for the time being I’m fond of something eatable lol

  36. Ah, now you’re talking like a true Greek! Let’s eat! 😆

  37. That’s the reason Greece has elections right now. The Greek voters are the ones deciding whow the future will look like. It’s up to them and them alone to give another chance to reckless drivers or entrust the faith of the economy to people who don’t know and some of them are unwilling to learn how to drive. The car has been seriously damaged, but hasn’t been involved in a fatal accident and it can be repaired. The Greek voters will select the driver/s, who in turn will get the money needed to get it fixed and put it back on the road. Only this time the driver of the car has to select a new safer path, to obey the rules and show an unyielding determination to reach its destination. The new pathway is that of hope, prosperity and sustainable economic growth. Our proud and presently hard tested people deserve nothing but the best and shouldn’t settle for less.

    I’m sorry didn’t get my point across, but I’m hoping you can see what I’m trying to get at.