Monday, March 16, 2015

Grexit Would Be Most Dramatic Chapter in EU History (Donald Tusk)

EU Council President Donald Tusk warned that EU states should prevent the withdrawal of Greece from the euro zone.

"We have to prevent such an idiotic scenario," Tusk told German media, adding that a Grexit would be a disaster, taking into account the crisis in Libya, the fragile situation in the Balkans, Moldova, Transdniestria and Cyprus.

Tusk stressed that Greece’s withdrawal from the monetary union is not just a question of money. In the history of Europe, we already have too many things that happened by an oversight, the EU Council President said, adding that even the First World War was "the result of misunderstandings, accidents and indiscreet phone calls."

"The Withdrawal of Greece would be the most dramatic chapter in the history of the European Union,” Tusk claimed. “We have to help Greece, this is indisputable."

Since 2010, the Eurozone countries, the European Central Bank and the International Monetary Fund have launched two bailout loan programs totaling €240 billion to help Greece out of the debt crisis. The program was expected to be in force until December 2014, but was extended until April 2015 after long discussions and debates.



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