Germany's rejection of Greek bail-out extension request dangerous and irresponsible

PRESS RELEASE - Brussels, 20 February 2015

Eurogroup/Greece

Germany's rejection of Greek bail-out extension request dangerous and irresponsible

Following the announcement today that the German government has rejected a request by Athens to extend its €172bn bailout, Greens/EFA economic and finance spokesperson Sven Giegold said:

"The Greek government's request for a technical extension of the program is good news and shows a clear willingness to compromise on a reasonable way forward. The rejection of such a constructive approach is irresponsible and dangerous as it dramatically increases the risk of a ‘Grexit’ which would carry politically and economically devastating consequences for both the euro area and Greece. The Greek government made a move as it has committed to refraining from unilateral action and to working on the basis of pre-agreed conditions with a view to replacing ongoing measures with ones that are more socially and economically balanced. It is now of utmost urgency that the German government and the Eurogroup stop playing power games and demonstrate their capacity to deliver compromises in the interest of both Greece and the rest of the EU."

Green MEP Ernest Urtasun, added:

"Greece is showing a clear commitment to coming to an agreement with the Eurogroup. It is time for the governments of Germany and Spain to stop blocking the agreement. The requests put forward by Minister Varoufakis are absolutely reasonable and would allow Greece to remain in the Eurozone while addressing the country’s humanitarian emergencies".

acknowledgements to derek wall