Monday, May 14, 2012

Holland to Greece: It's the EU Way or the Highway

Dutch Finance Minister Rules Out Austerity Compromise 

The lame duck finance minister of the Netherlands, whose own government recently collapsed over EU austerity requirements, has ruled out any compromise with Greece on its austerity-tied bailout agreement. 

Commenting today on Greek commitments, Jan Kees De Jager told Athens News:

"Greece has no option but to reform (continue to cut spending) and to repay (its debts) and if it doesn't do that, it will be a very serious problem, not just for Greece, but for everyone. There is no room to soften the (second bailout) agreement, or to say 'we're going to reform a bit less or we could repay a bit less'. 
"If there are suggestions for an alternative (for Greece), then the (ECB/IMF) Troika must look into them. But the Greek agenda is but one: to reform. 
"And if the Greek people choose another agenda then we are going to have a big problem and we don't have the room to say 'well, don't worry'."

Related: Lame Duck Dutch PM Demands Greece Stay the Course