Greece is a bottomless pit? North Greece € or exclude from the euro zone?
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It is what it is, Greece is deeply in debt by, but despite billions in aid and drastic austerity measures no way out of debt. Greece is a bottomless pit? Hans-Olaf Henkel, former president of the BDI criticized sticking to the current situation and does the “North-€” dinner conversation.
“Henkel, former president of the BDI, with Greece: “This is developing into a bottomless pit”
Hans-Olaf Henkel, Former president of the Federation of German Industries (BDI), to financial aid for the heavily indebted Greece:
“We have witnessed many times that politicians have promised us that this was now the end of the story and that is just now noted, of course not. The developing into a bottomless pit. ”
One of the reasons why the euro countries put together rescue packages over again:
“They (the Euro-countries, Ed) are prisoners of their own promises or her own position. They always claim that this course, be faithful to that between individual euro, despite the bad experiences we do now, whether alternative. I think it’s really time that politics – particularly German – are sometimes dealt with alternatives. For there are some. One was even taken time recently to talk – that is the forced expulsion, if you will, of Greece from the euro. This certainly has major disadvantages for the stability of the financial system in Europe, that is clear, also for the German taxpayer. Another alternative I’ve brought into the conversation some time ago: that Germany, together with Finland, Austria and Holland in turn leaves the Euro-bond and created a North-€.”
To forecast the situation in Europe in recent years:
“If this continues, and there is a risk so that the policy is simply not in a position to admit the mistakes they made, then this continues, we will mutate into a transfer-Union. The states financial compensation is a good example: we have in the 16 states so only three donors – Hesse, Baden-Nuremberg and Bavaria. And so is Germany with some other northern countries for a permanent donor country. That is, we come to a pooling of debt and it will be worth it then for no one to save. ”
The debate over more billions in aid for the heavily indebted Greece continues. Talking is a new package of EU countries and the International Monetary Fund. About the size is still speculation. In Berlin coalition sources said the speech was about 40 billion euros. “
