I am deeply touched – once again. Inspiring speeches and admitting mistakes always touch me deep inside. After International Monetary Fund accepted its calculation mistakes in the Greek austerity program, former head of Eurogroup Jean Claude Juncker admitted another grave mistake: the mistake of Eurogroup. “It was our mistakes to listen to the market gurus,” Juncker told an audience in Athens. The prime minister of Luxembourg expressed his respect for Greece but also his discomfort to the “arrogance exhibited by Northern Europeans towards” the debt-ridden country.
Jean-Claude Juncker, currently on a two-day working visit to Athens, was speaking on “Euro: Assessment and prospects,” in a event organized to honor him.
“According to AMNA, on the current crisis in the euro zone, Juncker stressed that it originated in the U.S., where “there is a dominant propaganda urging people to get rich in an easy way: Your money works for you while you sleep…” This was an error, he added, and Europe must go back on the virtue of work.
Focusing on Greece, the former Eurogroup chief expressed regret for the “immoral words arrogantly uttered in Northern European countries by politicians and media against Greece, which has been on the right path of work since 2010.”
“I΄m very proud to have reacted to the grexit,» Juncker said, noting that “Greece has great recovery potential and will be the winner.”
“From the depth of my heart, I can say that the effort made by this country is comparatively much higher than what has been required by other countries. I do admire the promptness of the Greek parliament and I do pay tribute to the government’s staff. There will be a fair wind and the Greeks have learned to pull paddle.”
He noted, however, that there was no alternative to fiscal consolidation. “There is no growth without sound public finances”, he emphasised.
Juncker finally noted that he did not want to refer to a new restructuring of Greek debt, but noted that Greece, “having lost 25 pct of its GDP,” has “every reason to be proud of herself.” (full article here)
Footnote: Whenever Juncker is in Athens, he stuns Greeks with his support sentiment. Once he is out of Greece, he listens to gurus. It looks as if the sun and the deep blue sea have a catalytic influence on his soul.
PS Dear Jean-Claude & EU-Co, if you have no idea about real-life economics, why do you bother?
I don’t need to add how inspiring was Juncker’s speech. First I thought to upload Carole King’s “You’ve got a friend.” Then I thought of “Will you still love me tomorrow” . But at the very end “It’s too late” is most appropriate…
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