Wieser: Greek crisis in 2015 actually cost country 200 bln€ in damages

13 February 2018
151 Views

Former Euro Working Group (EWG) head Thomas Wieser on Monday struck again in relation to the Greek crisis era, especially during the “annus horribilis ” of 2015, saying he estimates total damages for the country from the shambolic negotiations between Athens and creditors during the first half of the year at double than previous believed, namely, 200 billion euros.

Wieser, who stepped down as EWG president last month, was quoted by the Dutch newspaper De Volkskrant as saying that an estimate by ESM Managing Director Klaus Regling of 100 billion euros in damages – related to the six-month tenure of controversial ex-FinMin Yanis Varoufakis – was actually double that figure.

“It probably cost double (in damages): the economic shrinkage, distrust by investors, the hits taken by Greek banks. But it wasn’t only Varoufakis, all of the Greek government bears responsibility,” he said.

The Austrian economist added that no one tried to undermine Greece, the victim of policies and omissions by successive Greek governments, as he noted.
Asked further, he said he authored a plan, code-named “Z”, for the possibility of a Grexit as far back as 2012, while adding that a possible exit from the Euro zone in 2015 was greater than in 2012, “although the consequences in 2012 would have been more dramatic.”

You may be interested

US Amb Pyatt: The stronger Greece is, the more it can act as a stabilizing force in the region
GREECE
shares53 views
GREECE
shares53 views

US Amb Pyatt: The stronger Greece is, the more it can act as a stabilizing force in the region

makis - Apr 20, 2018

Greece can act as a stabilizing force for good in the wider region and the stronger Greece is, the better…

Kotzias – Dimitrov to meet again on April 25, in Vienna
POLITICS
shares52 views
POLITICS
shares52 views

Kotzias – Dimitrov to meet again on April 25, in Vienna

makis - Apr 20, 2018

According to the FYROM government spokesman, Mile Bosnjakovski who spoke on Friday, there will be a new meeting between the…

Alexandros Stamatiadis dies in hospital
GREECE
shares78 views
GREECE
shares78 views

Alexandros Stamatiadis dies in hospital

makis - Apr 20, 2018

Greek businessman Alexandros Stamatiadis has died after being hospitalised in critical condition for 18 days. The businessman, 52, was shot…

Leave a Comment

Your email address will not be published.