Home ECONOMY Eurozone can’t see Greece falling: German diplomat

Eurozone can’t see Greece falling: German diplomat


Kolkata, July 14:

In face of a growing Russian influence in the Mediterranean and a surge in the number of refugee workers out of Greece due to the economic crisis, the Eurozone needs to aid its ailing partner and can’t allow it to fall, a German diplomat said on Tuesday.


“Greece is a NATO country and we (Eurozone) can’t see it falling,” German consul general Rainer Schmiedchen said at an event organised by the Bengal Chamber of Commerce and Industry here.

He said since Greece is a part of the North Atlantic Treaty Organisation (NATO), the countries in Eurozone, which are also alliance members need to come to the aid of the country undergoing tremendous financial crisis.

NATO Secretary-General Jens Stoltenberg had also expressed a similar opinion recently.

Furthermore, Schmiedchen said the Russians, who are expanding their influence in eastern Europe and the Mediterranean zone, are on the lookout for the crisis to boil.

“The Russians are waiting for the opportunity,” he said.

He also hinted at the problem of refugees – mainly migrant workers pouring out of Greece to other European countries for a better livelihood.

However, he said the cash-strapped country can temporarily opt out of the economic pact with its western neighbours to stabilise its own currency and economy and thereafter return to the entente of Euro.

“Within the Euro system, Greece can opt out for a while,” Schmiedchen said.

Greece, under its Leftist leader Alexis Tsipras, has received a debt deal under the framework of a 82-86 billion euro package for a bailout from its ongoing financial stress. (IANS)