International

In the opinion of SP Member of Parliament Arnold Merkies, Greece has only been brought deeper into difficulties by last year’s emergency package. ‘At the end of last year Greece once again received aid,’ says Merkies. Referring to the Dutch Finance Minister who has since become Chair of the Eurozone group, he said that ‘debt restructuring was then unnecessary, according to Jeroen Dijsselbloem, because there was now a sustainable Greek sovereign debt. Now he says that renewed aid is needed immediately. Parliament is being repeatedly seduced into voting to agree to aid on the basis of unrealistic expectations about the Greek economy and the sustainability of its debt.’

In Merkies’ view a fresh loan to Greece is not, as Dijsselbloem claims, unavoidable. Its existing debts must be drastically restructured, beginning with those owed by private parties. ‘The government is thinking like a gambling addict,’ says Merkies. ‘In order to make up earlier losses it’s shoving more and more money into the fruit machine. But this jackpot is never going to fall. The present approach has clearly failed and will in the end work to the disadvantage of both the Netherlands and Greece.‘

The SP is demanding a debate with the minister over the Greek debt, to take place as soon as parliamentary business resumes at the beginning of September.