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Schaeuble threatens Referendum voters with “temporary euro exit” and “bank collapse”

Creditors’ last attempt to scaremonger Greece’s voters before the Referendum. German Finance Minister Wolfgang Schaeuble and his happily-waving-tail tabloid BILD joined forces to influence Referendum voters. In his interview, Schaeuble warns Greeks with a very vague plan of a “temporary exit from the eurozone” if NO wins.

Saturday noon, the German daily uploaded the interview and even translated into …Greek. The German version was and still is behind a pay wall but for Greeks and in Greek is for free.

Excerpt translated into English by KTG

BILD: In a year from now, will Greece still have the Euro – or  the drachma again?

Schäuble: “Greece is a member of the Eurozone. No doubt about it. With the Euro or temporarily without the euro:  Greeks can only answer this question. It is also clear: we will not let the people in Greece without help.

BILD: Even if the Greeks Sunday say NO to reforms?

Schäuble: The proposal for which the Greek government wants to make the referendum is no longer on the table. We must wait how the government in Athens will deal with the result of the referendum, and what consequences this will have. And then Greeks can make a request to start negotiations. But these negotiations will start from completely new basis after the end of the program and under difficult economic conditions. This would definitely take quite some time … ”

BILD: And then the circus will start from the beginning?

Schäuble: “If there will be such a Greek request, the Finance Ministers [eurogroup] will consider it.  And certain conditions are met, the Eurogroup will agree to launch new negotiations. But before this the Bundestag [german parliament] has to decide. Only then we will the right to start negotiations. ”

BILD: That is for the Third Aid Package!

Schäuble: “The debate is about a program according to a clear principle: Support only for real return. Greece needs reforms. But I already know by now: The negotiations will be very difficult. This is because the situation in Greece in recent weeks has dramatically deteriorated. ”

BILD: Do you consider collapse of Greek banks in the next days?

Schäuble: “Banks have been provisionally closed. The European Banking Regulator is monitoring the situation. Even if individual banks would collapse, the ability to “transmit the disease” is comparatively low. The markets have already reacted quite cautiously in recent days. This shows that the problem is under control.”

Schaueble assured BILD that he would not resign “because of Greece.” For another reason, maybe?

You don’t need a link to BILD, do you?

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2 comments

  1. The fact that they provide it free and in Greek proves conclusively that the Germans are paying for organised propaganda against Greece. And anyone who knows Germans, knows that they do not pay for things without getting something in return…

  2. It is all just DESPERATION
    Greece will be cash only for a while.
    BUSINESS PRACTICE:
    I have a shipping container full of good to the value of $1 million to sell.
    You have a shipping container full od good to the value of $1 million to sell.
    I want your goods
    &
    You want mine
    What is the easiest was to do business ?
    How about we exchange shipping containers & we each pay the transport costs.
    I will take the goods – divide them up into smaller lots & sell them for profit to wholesalers – & I can sell them for even bigger profit to retailers.
    And you will do the same.
    This is how business is done – think about it.
    (cut out the middle man)