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Friday, March 13, 2015

The Fantasy World of The EC

European Commission President Jean-Claude Juncker has declared that Greece will not default on its debt, and said he could see a solution coming within weeks.

He is quoted by ANSA:
"We have come to the decisive moments.

The Commission is not a lead player in this phase, but we'll do everything to cooperate. What we exclude is a default. I think a solution in the coming weeks is possible".

It is all very well living in fantasy land. However, as Juncker himself says:

"the Commission is not a lead player in this phase".

It is up to the Troika and Greece to determine if Greece will avoid default.

However, as Varoufakis has already stated:
"Clever people in Brussels, in Frankfurt and in Berlin knew back in May 2010 that Greece would never pay back its debts. But they acted as if Greece wasn't bankrupt, as if it just didn't have enough liquid funds.

In this position, to give the most bankrupt of any state the biggest credit in history, like third class corrupt bankers, was a crime against humanity."
Greece is determined to be thrown out of the Eurozone, whatever Juncker and his fantasists in the EC may wish for.

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