Saturday, January 31, 2015

Greece’s Finance Minister: We need Germany – FAZ – Frankfurter Allgemeine Zeitung

Greece's Finance Minister: We need Germany – FAZ – Frankfurter Allgemeine Zeitung



          The criticism of the new Greek Finance Minister Giani Varoufakis would thus also of many a professor of economics may come into Germany.

          � �                                                  

The new Greek Finance Minister Giani Varoufakis was before his press conference with the Euro group boss Jeroen Dijsselbloem safely yesterday, Friday the most famous man in the Cabinet of the popular Prime Minister Alexis Tsipras. Ever since he is in any case: For he announced alongside the Dutch finance minister clearly tried to pose that his country will no longer work with the Troika inspectors. That was almost immediate international headline. The observers wondered immediately: What does this mean? Is he really mean it?


In the evening Varoufakis was then the British television channel BBC an interesting interview in which he himself and his government’s plans says (here in the original) and at the same time trying to smooth things over. In it, he answers the question of whether Greece will actually accept any more aid money, so: “Just imagine once, a friend comes to you and says she has trouble paying off their mortgage because they lost their jobs or from a other reason have lower disposable income. And then she presents you an idea: you would have there the possibility to get a credit card, and could therefore be paid in the next few months the rates. Would you recommend her to consider anyway “And he adds:” (…) this is the right approach for something that is primarily an insolvency problem. This is in Greece for five years now the problem “In Germany Varoufakis is therefore likely to encounter just under known economists significant agreement -.. Ifo President Hans-Werner Sinn speaks quite similar, AfD boss Bernd Lucke and


Varoufakis wants so now it’s over. And he wants, as he then says in the interview, do not terminate the cooperation with international donors and speaks of the other euro countries explicitly as “partners”. He sounds like someone who wants to soothe – so no one who plans burn all bridges are talking about. He also says: “This is not a game where it’s about who shrugs first.”


His government would be wise to sit down with the donors and find a way that it will not c ontinue as in the past five years. This would not improve Greece’s situation. And they had Europe politically seriously damaged in the sense that in many countries, extremist parties and movements emerged or have become stronger – an interesting statement in view of the fact that he himself is minister of a left-wing populist party formed a coalition with a right grouping. Him and his government it is a matter now to make a suggestion that minimizes the cost of the crisis for the average European taxpayers, “not only for the Greek.”

                                                             He would not know understood that any cooperation had become obsolete

His Troika utterances. His government would continue to cooperate with the International Monetary Fund, the European Central Bank, the European Commission and each euro country. Upon request, he also says that his government will work with the troika as overall design further. “We want a new program, a new deal for Greece.” He was defending itself against the Troika but so far they implementing a program in Greece itself and monitor that failed in the eyes of his government.


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He also rejects the accusation that his government wanted to important structural reforms to turn back – “On the contrary, we want they even deepen “. “We Greeks themselves but are fed up of living in a country that desperately needs reform, and they do not riff.” This spilled over the past five years, the program has many problems in Greece but not taken into account.


Finally, it is also asked how he keeps it with the German government Merkel, who is made for the country’s problems by many Greeks as Beater of “saving dictation” and therefore responsible. He points to a text written by himself contribution (read here in his blog) entitled “Europe needs a hegemonic Germany” and stresses the importance of Germany is a growth engine for Europe in his view. Even such a sentence has been by the Greek government – not heard

– at least publicly, and with such clarity.


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Giani Varoufakis

We need Germany

Greek Finance Minister is an exciting television interview: Europe needs an economically strong Germany. Greece needs more reforms. And he says to the Troika surprising.

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