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10 May 2012

DW: Spectre of Greek exit from eurozone emerges in Brussels


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With Greece struggling to form a government and the winner of recent elections calling for an end to austerity, officials in Brussels are starting to discuss what they have long feared: a Greek exit from the eurozone.


With no Greek government in sight, Brussels is getting increasingly nervous. EU Commission President José Manuel Barroso issued an unmistakable warning during the celebration of Europe Day Wednesday. "Countries in the relief programme have no other choice", he said, "except for uncontrolled state bankruptcy, and that's no alternative at all in my opinion". Barroso called on countries to take "courageous consolidation measures, to improve their competitiveness through structural reforms, and to make selective investments".

Top European officials are slowly losing patience with Greece, even while trying to show respect for the country's recent democratic elections. Luxembourg's Foreign Minister, Jean Asselborn, said it is not possible for Greece to keep the euro and reject savings measures at the same time. "If 80 per cent of Greeks want to keep the euro, they have to support parties that support" savings measures, he said. "Otherwise - I'm sorry for Greece and the Greek people - but there comes a point where Greece will have lost its last chance."

Many European politicians and functionaries see the EU at a crossroads. They seem to think the coming months will determine whether the integration of Europe continues or not.

Full article



© Deutsche Welle


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