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Merkies: ‘Yet more loans no solution for Greece’

October 25th, 2012 • SP Member of Parliament Arnold Merkies is calling on the government to make it clear, at the earliest possible opportunity, that it will not cooperate in delivering a third package of loans to Greece. ‘Before the elections Prime Minister Mark Rutte said that Greece should not count on receiving a multi-billion loan for a third time,’ says Merkies. ‘I want the prime Minister now to say whether he stands by these words.’

Arnold MerkiesIn Merkies’ opinion the fact that previous loans of €110 billion in 2010 and €130 billion in 2011 have not worked should offer a lesson. ‘Still more loans are no solution for the Greeks,’ he says. The only parties which have been aided during these years have been the moneylenders who have been able en masse to withdraw from Greece, thanks to the European taxpayer.’

According to highly-placed EU sources the troika of IMF, European Central Bank and European Commission is of the opinion that another €16-18 billion must be given to Greece. Merkies disagrees. ‘Greece already has a sovereign debt of more than €300 billion,’ he points out. ‘Repeatedly adding to this debt is no solution. As early as May 2010 it was clear that aid to Greece could not work without a major write-down of the debt.’

In Merkies’ view the Greek economy has been offered no chance to recover. ‘It’s not only the extreme austerity imposed on Greece itself that will put the brakes on any recovery, but the spending cuts in the rest of Europe,’ says Merkies. ‘As a result of these the Greek state has ever lower income and its debts are growing ever more quickly. In the end we will be running the risk that we will find that we can simply whistle for our money.’ Merkies wants to see the whole of the remaining private debt written off.

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