Squawk / 07 July 2015 at 19:51 GMT
Chief Economist & CIO / Saxo Bank
Denmark
Greece/ESM: Please read article 1 and 2 of ESM charter below:
How can they even discuss ESM funding for Greece when Greece clearly neither has access to capital or is stable.

A violation of the charter would not be first time EU violates its own rules, but it would be end of EUR and Europe.

We are now de facto in the Socialist Union of Europe
4y
benlouro benlouro
Hy Steen tell me a good reason for why not a country could have two currencies? Why don´t allow Greece to print dracmas, so they can pay public workers and pensioners in dracmas? And the rest of the economy would still work with EUROS (if they have it)...
4y
buelte buelte
Hi Steen,
so true - straightforward factual, very much at the heart of this massive problem. Therefore it's not Germany vs Greece but states that still think and act upon the conviction that ESM is valid should remain so. Especially since Greece received €230bn without notable structural reform (which is a massive understatement) - giving another time the benefit of doubt is undue, there can be no doubt in view of these rules. Thanks

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