Hans-Olaf Henkel (ECR) wants a "Greece double decision": debt relief for Greece in exchange for a Grexit from the Eurozone

Date

14 Feb 2017

Sections

Global Europe

Press release

Hans-Olaf Henkel (ECR) wants a "Greece double decision": debt relief for Greece in exchange for a Grexit from the Eurozone

Hans-Olaf Henkel, Member of the European Parliament for the LKR, believes that another € 86 billion aid program for Greece is "good money that is being thrown down the drain".

Strasbourg, February 14, 2017 - For MEP Hans-Olaf Henkel (ECR Group, Liberal-Conservative Reformists), every further financial aid programme for Greece is "good money that is being thrown down the drain." In a debate on the state of play of the second review of the economic adjustment programme for Greece and the approval of further financial support consisting of EUR 86 billion, Henkel called for a "double decision": a massive debt relief for Greece and the withdrawal of the country from the Euro. The economics professor and former president of the Federation of German Industry (BDI) underlined the still prevailing lack of competitiveness of Greece in the European Parliament in Strasbourg. A high unemployment rate and the lack of economic prospects are good reasons for Greece to leave the Eurozone as quickly as possible in order to become more competitive again. Before that, however, it is necessary to grant Greece a substantial debt relief in exchange. A bankruptcy could be the first step towards improvement, according to Henkel.

"The Euro is too strong for Greece and has led to a declining economic performance and destruction of jobs," says Henkel.

A debt relief and the withdrawal of Greece from the euro would also be in the sense of the other euro countries:

"Firstly, creditors will not pay for it - the money is already gone, and secondly: a new, depreciated currency would help Greece to finally regain competitiveness, get economically on its feet again and tackle the unbearable problem of youth unemployment," Henkel said.

"Let's not delude ourselves, the money we gave Greece we will not see again. Let us free Greece from the burden of being part of the euro, because it has only harmed the country," Henkel concluded.

ENDS