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EU Commission puts an end to Grexit nonsense: “Euro membership is irrevocable”

Finally! Enough with the Grexit nonsense! After days of frenzy Grexit scenarios, that plunged the euro and the stock markets, the European Union’s executive Commission said that membership in the euro bloc is “irrevocable”. However it left open to what extent Greece could renegotiate the terms after the Jan. 25 elections.

EU spokeswoman Annika Breidthardt said Monday that if the Greek elections call for a need to look again at the conditions of Athens’ membership within the 19-country eurozone, “we will deal with that once the Greek voters have cast their verdict.”

At the same time, she insisted that a full exit by Greece was not on the cards since the euro rules say that “membership is irrevocable.”

Some say that if the left-wing Syriza party wins the election in Greece, the new government may renege on the terms of the country’s bailout, possibly putting in question its euro membership. (via FoxNews)

“Some say”? It is Greece Prime Minister until 31. December 2014 Antonis Samaras who used Grexit scare-mongering as his main slogan in his pre-election campaign against left-wing SYRIZA. #justsaying

PS I supposed, the EU started to worry about the profits for Eurozone member states, after the Grexit scenarios pushed down the common currency into a nine-year low.

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2 comments

  1. The EU sentiment here smells like ‘we own your ass’ fascism to me. Meanwhile, in other news … “Some Say” is basically the credo of faux-journalism (read:FOX news) and fear-mongering ‘would-be’ kings (nudge nudge: um, someone named …Tony).

  2. Henri Myllyniemi

    Recommend reading, also for the author. 🙂

    http://www.marketwatch.com/story/greek-euro-exit-would-be-lehman-brothers-squared-economist-2015-01-03

    This reminds us all that mr. Tsipras has got a deck of aces.