Greek Finance Giani Varoufakis has ruled out a withdrawal of his country from the euro zone. The reintroduction of the old currency drachma would Greece throw back to the Stone Age, Varoufakis said. It is not for the return to the drachma. Better it would have been if Greece would not even joined the euro area.
Then the country would have had the opportunity to improve its competitiveness, Varoufakis said at a seminar, which was broadcast on Greek television. “But once you are inside, there is no way out.”
Greece presents no parallel currency before
Athens not preparing for words of Finance on the introduction of a parallel currency to the euro before to pay its civil servants can. “There is no solution with two currencies. For the government, there is only a political solution,” Varoufakis said.
Can Greece be a Euro country saved?
In the past few days were mainly published reports in the international press, according to which Athens supposedly preparing for the introduction of a parallel currency in the face of an impending state bankruptcy. A parallel or complementary currency can be the beginning of the introduction of a new currency. The state is in this case notes (IOU after the English I owe you – I owe you) from, be paid to those in the domestic debt, pensions and wages.
Athens has always scrape together more difficulty money to meet its obligations at home and abroad.
Former German Bank chief economist Thomas Mayer, the Greece already in 2012 a parallel currency proposed and called this “Geuro” had confirmed to the “Handelsblatt” that he had met in late April Varoufakis and Greek Prime Minister Alexis Tsipras in Athens. In the conversation it had gone “to the current situation in the euro zone and also about my earlier suggestion of a parallel currency”, said the economist.
ECB loans later?
Varoufakis has not yet laid despite the opposition of the euro partners to files meanwhile its restructuring plans. His country would need more time for the repayment of loans to the European Central Bank, the minister said. However, he sees little chance of success. ECB chief Mario Draghi could not afford because of the current bond buying program, to irritate Germany
.
After the repayment of almost seven billion euros in July and August were 27 billion euros left, which would be due in the coming months and years. “These bonds should be postponed into the distant future. That is clear,” Varoufakis who brought so that its debt restructuring proposals at the beginning of his term earlier this year back into the game said.
The biggest Hellas port but before sale
Meanwhile, the Greek government has apparently given in to pressure from their creditors, and now it brought the sale to the largest port in the country on the path. Three foreign companies have been invited to submit binding bids by September for the majority at the port of Piraeus, said a project with the familiar high-ranking government officials.
This is about 51 percent. The percentage could be increased within five years to up to 67 percent if the buyer posh investments amounting to 300 million euros.
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