Slovak PM Demonstrates Awareness Of Eurozone Situation

 

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BRATISLAVA (Reuters) – The euro zone will not survive in its current form and one or possibly two countries will be forced to leave the currency bloc because they will be unable to meet their commitments, Slovak Prime Minister Robert Fico said on Sunday.

“I think the time will come when it will be clear that some countries are not able to deliver when it comes to fiscal consolidation and commitments and that one or maybe two countries will not be part of the euro zone in its current form,” he told Slovak TV channel Markiza.

When asked if one of the countries that will be forced to leave was likely to be debt-crippled Greece he said: “Yes, Greece for example.”

“I think that the euro zone will no longer function in its current form.”

Fico said he believed that Greece was already struggling to satisfy demands from international lenders.

“I think Greece is not meeting its commitments. It is asking for more and more exceptions, more time to deliver on commitments it has made, and it will be right for major euro zone countries to take a stance how to deal with Greece.

If Greece is unable to meet its obligations there should be a coordinated exit.” (Reporting by Martin Santa; Editing by Andrew Osborn)

This voice is getting louder and louder. 

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5 Responses to Slovak PM Demonstrates Awareness Of Eurozone Situation

  1. DirkH says:

    Give it some more years of political chaos. I don’t dare to predict when Greece will be kicked out. The power politics of the Eurocrats are beyond human reason.

  2. Dave G says:

    The EU is toast plain and simple, no offence to Dirk who lives in Germany (I think) I agree with most of your comments here and else where. 4 levels of government is one to much for anybody and a single currency is in lunacy for such a diverse group of Country’s.
    Good luck Dirk, I think there’s a lot more pain to come.

    • DirkH says:

      Yes, I’m in Germany. Yes, the EU is toast. We will have much entertainment for the next 30 years.

      • Bruce says:

        Here is one for you Dirk. A conservative UK Telegraph columnist (and economist) somehow got invited to address a German Greens confabulation.

        Sensible for Germany to leave euro, but they’re not ready

        Its a fascinating window into the incomprehension of the green left.

        Also it looks like Ms Merkel will grit her teeth and give Greece the money even though they aren’t even close to meeting the targets. And she’ll give them the extra 2 years to not meet them too.

        This is all so like the ’30’s its not funny.

        • DirkH says:

          Sigh. The German Greens are mostly teachers, which are public servants in Germany. They have NO, not even the remotest need to know what a market is or can do – they can’t be fired. Economic education in German schools is extinct. They must have thought a Martian came to visit them.

          Article no.2: The other big German opposition party, the SPD, of which Steinbrück is the candiate for chancellor during the next election, does not even TRY to suggest a solution. They have eroded from a once mighty 50% or so party to a measly 24% as the left has fractured into SPD, Greens, Die Linke (communists basically), Piraten (statists in denial). The SPD wants us to go headfirst into a liability union with the rest of the Eurozone; a sure way of electoral harakiri – they definitely can’t win and don’t want to win but leave the mess to Merkel.

          It’s all pretty hopeless here. Alle gegen alle.

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