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Merkel ally tells Greece: Vote right or euro's gone

The Local · 16 Jun 2012, 14:50

Published: 16 Jun 2012 14:50 GMT+02:00

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"If the radical left carries on saying it wants the help of all the other countries in the eurozone but does not offer anything in return, then it will only be a matter of time before Greece exits" the eurozone, said Wolfgang Bosbach, chairman of the interior ministry committee in parliament and a close ally of Chancellor Angela Merkel.

Even without Sunday's elections, Greece is not fit to be a member of the eurozone, the top Christian Democratic Union official said.

"The country's economy lacks dynamism, competitiveness and efficient governance. And billions more aid will not change that fundamentally," he said in excerpts from an interview with Frankfurter Allgemeine Zeitung, to be published in full on Sunday.

He said he did not believe Greece's exit from the eurozone would be decided "in the coming weeks" but that Europe would have to help the country economically during the transition phase.

Greeks on Sunday can either vote against austerity or in favour of a party that is more likely to keep their country in the euro.

Story continues below…

The radical left Syriza party's firebrand leader Alexis Tsipras has vowed to tear up the bailout deal that gave Greece a credit lifeline in exchange for steep budget cuts and renegotiate with creditors from scratch.


The Local (news@thelocal.de)

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Your comments about this article

17:35 June 16, 2012 by Eagle1
The Greeks are thick-headed and need to learn the hard way. Cut them loose from the Euro. Let them retire at 56, pay no taxes, produce nothing, collect generous benefits from the government, and drink ouzo seaside all day long. Banks will ignore the country, and Greece's economy will completely collapse, but that's what they seem to want.

This will serve as a powerful warning to Italy, Spain, and Portugal, who need to get their acts in gear.
18:28 June 16, 2012 by siba
Wolfgang Bosbach is politician from the CDU but the local calls him a "right-wing ally" of Merkel. So now "the local" calls all "conservative" politicians "right-wing"? It is ok but not objective anymore.

conservative, right-wing, nazis.... here everythings seems to get mixed up. I think it is important to differentiate to know what we really talk about.
19:43 June 16, 2012 by smart2012
Eagle1, I think u completely miss the point that if Greece leaves euro we will all get in a mess... Germany needs euro and euro needs Greece... Keep reading Bild, keep voting merkel, then we will have ww3
20:17 June 16, 2012 by Leo Strauss
You`ve all probably seen this one but for those who haven`t-- Here`s Nigel Farage on Spain:


And Max Keiser with Yanis Varoufakis on Greece:



Agreed. Defining our terms clearly is essential. No wonder people used to wish `confusion` on their enemies.


Agreed that Greece leaving will be a disaster for all. Greece staying will be even worse.

Enjoy the time while you can. WW3 is in the post. ;)
20:18 June 16, 2012 by IchBinKönig

You don't think this EU shenanigans is edging us toward unrest? We NEED that? The German taxpayer needs more Debt? I guess you, and the ELITES you SHILL for, are still angling for some more bailouts?
22:55 June 16, 2012 by puisoh
It is amazing some people are able to label themselves 'smart' .. we have a saying, when you realise you are a genius, you probably already are a fool.

Euro needs Greece??

Smart?? Highly doubtful ...
23:08 June 16, 2012 by PNWDev
@smart 2012

Germany doesn¦#39;t need the Euro, but the Euro does need Germany. The Euro does not need Greece, but Greece does need the Euro.

Obviously you failed to read my previous answer. Choice is simple, commit to the Euro and face bailout after bailout, after bailout. Or leave the Euro, suck-up the economic hardships that will result, and you will be on your way in working through it. The same will apply for Greece too.

So clearly your choice is to save the Euro at all costs? Well my friend, this contagion will not end, it will only spread, and applying your more-debt solution will only add more countries to the contagion list making every German a slave to the system. And then the bailouts will get bigger and when they do, we will have come full circle and ready for round two.

Greece and the EU can recover from a Greek exit. The only people who think they can¦#39;t either, 1) don¦#39;t want to suffer the short-term consequences because of either their financial exposure, or are just too lazy to work beyond any level they were conditioned to accept, 2) have no training in economics, or 3) are trained in economics but allow their politics to overwrite their math because of the exposure I mention in problem 1).

Inflation and unemployment will soar and the Greeks will print money like the world has never before seen, and while they are recovering, their tourism industry will explode. It does not mean the end of days for the Greeks, just some personal sacrifice. In the end, the system will be cleaned out and ready for more excessive government spending and entitlement programs.

And by the way, a WW3 in this case would involve who? Portugal, Spain, and Greece? Against who? Those three would sell-out their own mother in the name of neutrality. The only war that will rage will be from their people in the streets against their own government because both sides will fail to accept responsibility for continuing to vote-in leaders who find it acceptable to spend more than they take in. And unfortunately, we are a long ways from putting that issue to rest.
23:31 June 16, 2012 by smart2012
if germany does not need Euro, why the hell is it still in??? please tell me.... (btw, I know the answer alraedy, but u have to work it out on your own).

If greece leaves Euro, noone will trust Euro anymore, hence investors will escaope even more direction US/China/Turkey/Russia/Ukraine/India etc etc

WW3: if Merkel does not change its politics, Euro/world will get into a huge crisis (alraedy started in the last 6 months), and a radical person will get into power somewhere and this will be the spark of a war (read history - 1930 - u should be familiar in Germany). Who against whom? I have already a theory (excuse will be religion)

Hope tjhis clarifies. Happy to bet
23:39 June 16, 2012 by belladons
Greece must just GO AWAY. Their politicians, financial and banking system is completely stupid as well as their WORTHLESS ECONOMY. Blame the people for: massive corruption, ignorance of government politics, and the incomprehension of how to handle state affairs. Oh wait, they are socialist. Well, that explains it…lol.
00:26 June 17, 2012 by Leo Strauss
Any Greek who votes for Syriza is clearly suffering from a bad case of drapetomania.
01:12 June 17, 2012 by Lachner
I believe that the best solution for Greece would be to remain in the Eurozone but with the Drachma as their official currency. This would allow Greek citizens to continue enjoying the political benefits of the EU and it would allow the Greek government to dictate their own monetary policy and devaluate the Drachma to better cope with the current negative market forces. With a devaluated currency, the demand for Greek products would increase, the cost of Greek labor will drop which would be attractive for multinational firms to establish industrial operations in Greece and the government will be able to have a better balance of payments. Additionally, the tourism boom in Greece would be enormous as prices for food, hotels and services would be very cheap and it would bring a lot of foreign capital back to the country.

The transition from the EU to the Drachma will not be easy, as inflation would rise rapidly, firms will struggle to pay their bills that are quoted in Euros, trade with other countries would fall sharply, the international reputation and credit rating for Greece will suffer, the GDP would tank for the first few months and Greeks will have to face civil unrest as it happened in Argentina.
11:38 June 17, 2012 by karldehm
There is an old saying, "Beware Greeks baring gifts". Maybe it should read, "Beware Greeks baring debt".
12:34 June 17, 2012 by AlexR
@Eagle1: "The Greeks are thick-headed. Let them retire at 56, pay no taxes, produce nothing, collect generous benefits from the government, and drink ouzo seaside all day long."

They are not only thick-headed, lazy, early retirees, tax evaders, low productivity ouzo drinkers. They also smell strange, and they are short, dark and hairy. Oh, and they eat babies and small kittens with their ouzo.

And that completes the stereotyping, generalization and outward lying of a nation you don't know anything about.

As for the rest, I think that that 'Merkel ally' is rather late to the party.

First to the party came the Financial Times Deutschland with its 'vote recommendation' to the Greeks: "don't vote the demagogue Left party, vote for the Right Party. Yes we know that the right Party is major responsible for the Greek chaos but.. ah well... vote for them"

Second to the party was the Bild with its 'open letter' to the Greeks: "If we haven't given you our money, you could be free to vote whichever party you wanted. But since our money are loading your ATMs, vote for the Right Party"

Next to the party was Merkel herself. From BBC: "German Chancellor Angela Merkel has urged Greek voters to elect leaders who will stick to austerity measures." h--p://www.bbc.co.uk/news/world-europe-18474437

So Mr. Bosbach, I'm afraid you are rather late. Your boss have already said it earlier and better than you.
15:15 June 17, 2012 by smart2012
AlexR, fully with u
19:40 June 17, 2012 by belladons
Alex R, outstanding reply.
18:51 June 18, 2012 by AlexR
And since the party is over, I need to congratulate Merkel, Cameron, Baroso, EU, IMF, ECB and the right wing media for organizing an impressive party and winning it for New Democracy. I can't remember such a brilliant campaign of co-ordinated scaremongering on any other sovereign nation in recent history.

I'm sure that this win should calm the markets and decrease the bond yields for a good 1-2 days. Not even 2 days you say? Oops, yes. World stock markets staged initially a relief rally but it proved short-lived. And the Spanish bond yields hit new euro era high today.

So another win for the Ancien Regime which will just encourage our overlords to be more draconian. Wait and see.
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