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> Economy

Europe warns that if Greece wants to stay in euro, it must follow rules

Statements from Europe's officials just two days ahead of the election

Newsroom January 23 02:35

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Just two days ahead of the snap general elections in Greece on Sunday, Eurogroup head Jeroen Dijsselbloem,  German Chancellor Angela Merkel and her FinMin Wolfgang Schäuble cautioned against Greece’s next government failing  honor the country’s commitments.

Wolfgang Schäuble

Addressing on Friday the World Economic Forum in Davos, Herr Schäuble denied reports that Berlin has modelled a potential Greek exit from the eurozone.

Although he praised Athens’ efforts to get its economy in order, he clarified that Greece won’t benefit from the ECB’s new QE program if the next government fails to stick to the country’s commitments.

Angela Merkel

German Chancellor Angela Merkel also commented on the political situation from Florence, Italy, where she met on Friday with the Italian Prime Minister Matteo Renzi.

Specifically, she stated: “We are waiting for the decision of the Greek people and we will cooperate with the current or new government. It is important to show our solidarity towards Greece, which is facing a difficult situation. I am certain that a solution will be found.”

Jeroen Dijsselbloem

“Greece must accept the Eurozone’s rules if it wants to remain in it”, Eurogroup head Jeroen Dijsselbloem told the German magazine Spiegel, sending a strict message to the country’s next government, just two days before national elections.

He highlighted that all top Greek politicians have stated that they want to keep the country in the Eurozone.

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“Any country that needs support to finance its economy and its public expenditure must follow the standards of the Eurozone”, Dijsselbloem said, adding that there will be no positive outcome if a country asks for loans without taking care of its obligations.

 

He concluded that any elected Greek government will need further support from the rest of the Eurozone.

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