EU Parliament President Warns Athens Of Dramatic Consequences If Talks Fail

[Purveyor]

Source: Reuters

European Parliament President Martin Schulz urged Greece in a newspaper interview to accept a proposal by its international lenders for a cash-for-reforms deal, warning Athens that failing to reach an agreement would have "dramatic" consequences.

The European Union is willing to compromise with the Greek government, Schulz told German newspaper Welt am Sonntag in an interview published on Sunday, adding that the lenders had already made concessions in the debt negotiations.

"I can only warn the Greek government against turning down the hand held out to them," Schulz, who has been supportive of Greece's cause, said. "Time is running out and the consequences would be dramatic."

Greek Prime Minister Alexis Tsipras has spurned the terms of proposed aid from lenders, creating an impasse that threatens to push Greece into default and out of the euro zone.

Read more: http://www.reuters.com/article/2015/06/07/us-eurozone-greece-schulz-idUSKBN0ON06920150607

[Demeter]

1. If I were running the EU, I'd worry about the effects of Forcing Greece out

Europe has so much more to lose---including its delusional Eurozone.

[rpannier]

3. First Domino falls

Be disastrous if Greece left and recovered quickly
Put an end to the myth that they or anyone else needs the EU -- except for German and French banks

[Demeter]

4. We are in complete agreement there

[quadrature]

9. totaly incorrect ...this mess has been going on for 3 or 4 years now...

and the time was used to fix up the other countries
and their banks.

if/when Greece leaves the Euro...
the 'firewall' is in place.

[rpannier]

10. totally correct

As magazines like Der Speigel have pointed out, a successful Greece independent of the EU would give evidence that leaving the EU isn't a bad thing
Countries like Spain and Italy could justify leaving

[bemildred]

2. Dramatic for whom? nt

[JCMach1]

5. bring on the Drachma that is pegged and redeemable for Bitcoin...!

and let the EU bankers go FRAK themselves...

[salib]

7. When Greece says goodbye to the Euro, it should be master of its own destiny.

It should not tie itself to Bitcoin. That would be any even more disastrous mistake.

[fasttense]

6. Rather Ironic that Germany wont forgive the loans when

Their loans after WWII were forgiven.

This is more about punishment and revenge than about economic common sense.

[sadoldgirl]

8. I think of this as an empty threat, no more. n/t