Directs the Institute of the German Economy in Cologne: the economists Michael Huether
The economist Michael Huether holds an orderly exit of Greece from the euro-zone’s probably harmless. “I believe that the monetary union could now withstand a Greek exit. The contagion to other countries would be minimal, the world, “the director of the Institute of the German Economy Cologne told the newspaper,” “according to a preliminary report.
“A Greek government would Tsipras to the EU in a weak bargaining position,” added Huether. “The blackmail Europe is significantly less than three years ago. Other countries such as Ireland and Portugal ha ve worked out of the crisis, and there were institutional advances such as the banking union. “The Greek population would be at the ballot” think twice whether they want to take a different path, “said the economist. “With a euro exit threatens the whole country a huge depletion and the exit from the EU.”
Monetary Fund stops aid payments to Greece
As the International Monetary Fund (IMF) announced in Washington on Monday, the suspended talks on aid payments to Greece will be continued only after the formation of a new government. The next tranche will therefore be paid only if, after the planned January elections, a new government was formed, said the IMF. He was responding to the final on Monday failed election of a head of state in the Greek Parliament, which pulls the dissolution of parliament and early elections by themselves.
The negotiations on the next tranche of emergency loans leads the IMF together with representatives of the European Commission and the European Central Bank (ECB). The talks between the Troika, Athens would not resume “when a new government,&# 8221; said IMF spokesman Gerry Rice. He added that Greece had no “direct” financing needs.
However, warned in view of the upcoming parliamentary election against any deviation from the austerity German Finance Minister Wolfgang Schaeuble Greece. “If Greece will choose a different path, it is difficult,” it said in a statement his ministry on Monday.
Stay the course
On Monday and EU Economic Affairs Commissioner Pierre Moscovici Greece urged to stick to its reform. A clear commitment to Europe and widespread support for the reform process is crucial to ensure that Greece could flourish again within the euro zone, Moscovici said.
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The new election in Greece became necessary after the election of a new president had failed in the third passage , The former European Commissioner Stavros Dimas missed on Monday in Parliament the required majority of 180 votes. Only 168 deputies voted for Dimas, who was supported by Prime Minister Antonis Samaras.
At the Athens Stock Exchange share prices slumped in the head by more than ten percent, while yields on Greek ten-year bonds rose to more than nine percent. However, the Euro and German shares rebounded quickly.
Samaras had preferred the choice of a successor to head of state Karolos Papoulias by two months. He was the reason given for wanting to end the political uncertainty in the debt-ridden country. The next general election would rotational basis queued until 2016.
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