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20 March 2012

Kathimerini: Jean-Claude Juncker on the Greek rescue


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In an interview with Kathimerini, Jean-Claude Juncker, prime minister of Luxembourg and chairman of the Eurogroup, has revealed what went on behind the scenes in the months leading up to the European Union and the International Monetary Fund putting together a support package for Greece in 2009.


Juncker admits that there was a point when he was very concerned regarding Greece’s future in the eurozone, when the reactions of the markets became so irrational that it appeared that a political solution could not be found to the problem.

He describes having to defend Greece’s place in eurozone to sceptics within the Eurogroup as one of the hardest moments as Eurogroup chief, and criticises certain populist elements in the German press and politics for their stance towards Greece.

Juncker admits that the first bailout deal for Greece failed to place enough emphasis on growth. He expressed regret for the difficulties that Greeks are facing. He also admits that in retrospect he was too patient with Greece at the beginning of the crisis, but also with those politicians who failed to express European solidarity.

Full interview



© Kathimerini


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