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article imageGreece: Venizelos cannot rule out further cuts and austerity

By Katerina Nikolas     Apr 8, 2012 in World
Evangelos Venizelos, former Greek Minister of Finance and now the new leader of PASOK, said this weekend that more cuts cannot be ruled in an effort to comply with Troika demands. He said Greece should accept whatever terms are imposed.
Responsible for introducing the widely unpopular property tax and increasing other taxes, Venizelos dealt closely with the Troika of the EU, ECB and IMF to implementausterity measures in Greece.
Venizelos's comments that further austerity cannot be ruled out contradict those of his successor in the role of Finance Minister, Filippos Sachinidis, who earlier this week said Greece would not need a third bailout or further austerity measures “If we keep to the pledges we have made." (Greek Reporter)
In response to German complaints about lending money to Greece, Venizelos pointed out that Germany has profited from bailout loans to Greece to the tune of 400 million euros over the last two years. Venizelos said that as Germany can borrow at virtually no cost due to its high credit rating, lending that same money to Greece means “the German taxpayers are benefiting from the good placement of their money made by their government.” (Athens News)
He did not draw attention to the profit Germany has made from the sales of unnecessary armaments to Greece which were part of the conditions of the loan bailouts as Germany applied pressure on Greece to spend the loans on weapons.
Venizelos may well lose what influence he has in the upcoming elections as polls show PASOK's rating standing at a meagre 16 percent. Ekathimeirni reports New Democracy leader Antonis Samaras has ruled out forming a coalition government with PASOK, as he said “We got rid of George Papandreou, now we will get rid of PASOK.”
More about 400 million euros interest, Evangelos Venizelos, Pasok leader, German loans
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