July 5 in Greece may become the date of the historic collapse of the EU project
After Saturday's chaos in Greece and Brussels, no one among EU finance ministers knows what will happen next, they write today German economic news. “The eurozone, in the form of a union of finance ministers,” says German journalists, “is a troupe of amateurs who have lost all their nerves and cannot negotiate with petty dictators.”
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The publication writes: “The eurozone is falling apart after a chaotic Saturday. The damage is irreparable. The meeting, which took place in Brussels, was conducted in a frightening manner of intransigence and ignorance. They [finance ministers] consider their propaganda to be completely defeated and compensate for this condition with a good dose of arrogance. But this is a sign of weakness.”
The publication reports that not a single EU finance minister has even an understanding, or even an idea, of how to proceed with Greece. The meeting of finance ministers took place in an extremely emotional atmosphere.
Finance ministers are technocrats, not politicians. But because of the politicians, they are too cowardly to take decisive action. Most of them were in the role of a “gray eminence” – and were happy to play the “shadow government” of the euro zone for too long. Now they are powerless.
The publication writes: “Most EU finance ministers have never worked in the real sector of the economy. They are either professional politicians, party cadres or former party members. Wolfgang Schäuble sat for 40 years in the Bundestag. What allows this person to decide what the economy needs in Greece?
“There is no plan B,” the publication reports. “Plan B is a waste of at least 340 billion euros of taxpayers’ money.”
The meeting of finance ministers on Saturday, after which Alexis Tsipras decided to hold a pan-Greek referendum, showed its complete inconsistency. Each of them, as it turned out, is responsible primarily to national budgets, and they are not interested in Greece’s exit from the EU and the fate of the union, the distant future. “They have no tactics. They don't have any strategy. They don’t have any plan,” the newspaper said indignantly. Apparently, on July 5, a historic collapse of the European Union project may occur.
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