Friday 2 December 2016

EU leaders will come to rue heavy-handed approach to debt crisis

Published 30/06/2015 | 02:30

A pensioner becomes emotional outside a closed branch of the national bank of Greece in Athens: nearly 50pc of pensioners live below the poverty line in Greece on pensions of less than €700 per month
A pensioner becomes emotional outside a closed branch of the national bank of Greece in Athens: nearly 50pc of pensioners live below the poverty line in Greece on pensions of less than €700 per month

In the end the Greeks were left with no choice. They had to use the nuclear option when it became clear that Troika technocrats are not interested in negotiating, but view them as nothing more than a Vichy government in place to rubber-stamp their policies.

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Yesterday, speaking about the forthcoming Greek referendum on whether its people should accept a new bailout deal, Germany's state secretary Steffan Seibert said: "This is a legitimate decision by the Greek government. Of course we will respect the result."

Regrettably, European Commission President Jean-Claude Juncker didn't get the memo, describing the decision in a press conference a couple of hours later as a betrayal, blackmail and egotistical. At least Juncker wasn't hiding his real feelings behind politically expedient conciliatory statements. The truth is EU leaders and their bagmen in the Troika have treated the Greek government and, by extension, the Greek people with nothing but contempt since this crisis started.

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