Monday , May 29 2023
Home / News / Economy / Obama on Greece: “You cannot keep on squeezing countries in recession” (video)

Obama on Greece: “You cannot keep on squeezing countries in recession” (video)

U.S. President Barack Obama made a sound intervention in what it seems to be in favor of  Greece’s positions “development vs austerity”, saying  that you cannot keep squeezing countries in recession and that there should be a development strategy so that these countries can pay back their loans. Speaking to network CNN, Obama spoke of the necessity of reforms in Greece, but he stressed that these cannot be done if the living standard decreases to 25%, “this is something neither the Greek society nor the political  system can stand”.

He made reference to “dramatically tragic tax collections in Greece” of the past and said “Reforms should be made but not with austerity conditions, with development.”

“I hope Greece will remain in the eurozone, that’s my hope. he said.

video: Obama – CNN

embedded by Embedded Video

YouTube Direkt

Obama’s intervention comes as Greece and its EU partners are struggling to find a solution to the debt problem, with the country’s new left-wing government SYRIZA-Independent Greeks under PM Alexis Tsipras insisting on “a new deal” with less austerity and a write-off of large part of the debt.

Germany insists on rejecting any deviation from the unprecedented austerity program and that has pushed to unemployment and poverty more than 1/3 of the population.

On Friday a rift between Finance Minister Yanis Varoufakis and Eurogroup head Jeroen Dijsselbloem broke out, when Varoufakis said, “Greece does not want to cooperate with the Troika,” the country’s official creidtors of IMF, ECB and EU.



Check Also

Moody’s: New ND gov’t in Greece will be ‘credit positive’, lead to ‘large debt reduction’

New Democracy’s strong results in last Sunday’s elections significantly increase the chance that it will …


  1. This big mouthed jackass is amazing. He is an expert on EVERYTHING – EXCEPT doing his job.

    • I suppose you would do a much better job?

    • Given that President Obama’s administration has brought about 58 straight months of job growth (by far a record in the US) to the tune of 11.4 million new jobs, after taking the oath of office when the US was losing nearly 900K jobs per month in the worst economic crisis since the Great Depression, I think that Mr. Obama can claim to pretty d*mn good at his job. The big mouthed jackass you’re seeing William is perhaps your own reflection in the mirror.