Germany: No going back on Greek bailout

Germany's foreign minister issued a warning to Greece that the bailout package agreed to by EU leaders cannot be renegotiated if it fails in a referendum.

Izvor: Deutsche Welle

Wednesday, 02.11.2011.

19:33

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Germany's foreign minister issued a warning to Greece that the bailout package agreed to by EU leaders cannot be renegotiated if it fails in a referendum. Deutche Welle reported that as Europe demands an explanation from Greece's prime minister for his decision to hold a referendum on the latest EU bailout, voters are warned that a rejection of the rescue plan is a rejection of the euro all together. Germany: No going back on Greek bailout "The whole program we just agreed last week cannot be placed back on the table," Germany's Guido Westerwelle told reporters in Istanbul on Wednesday on the sidelines of a conference on Afghanistan. He added that Greece could not expect financial help from the bloc without making sacrifices. "Every country in the EU does its own homework, which means reforms are necessary." The comments came less than 48 hours after Greek Prime Minister George Papandreou announced plans to hold a referendum on the country's latest bailout by the EU. Greek Interior Minister Haris Kastanidis said Wednesday that the vote could be moved up from January to December. Papandreou won the full backing of his cabinet on Wednesday, despite harsh criticism from lawmakers in Greece and across the globe that the referendum risked throwing the whole eurozone into even more financial chaos. Günther Oettinger, EU energy commissioner, said the rescue package for Greece was a "good opportunity" for Greeks, but that he understood they were dissatisfied with the entire crisis. "The Greeks have many good grounds to vote for the package," he told the German daily newspaper Die Welt. "But there's a lot of frustration and resignation in Greece. If the Greeks actually vote no, the consequences are unforeseeable."

Germany: No going back on Greek bailout

"The whole program we just agreed last week cannot be placed back on the table," Germany's Guido Westerwelle told reporters in Istanbul on Wednesday on the sidelines of a conference on Afghanistan. He added that Greece could not expect financial help from the bloc without making sacrifices.

"Every country in the EU does its own homework, which means reforms are necessary."

The comments came less than 48 hours after Greek Prime Minister George Papandreou announced plans to hold a referendum on the country's latest bailout by the EU. Greek Interior Minister Haris Kastanidis said Wednesday that the vote could be moved up from January to December.

Papandreou won the full backing of his cabinet on Wednesday, despite harsh criticism from lawmakers in Greece and across the globe that the referendum risked throwing the whole eurozone into even more financial chaos.

Günther Oettinger, EU energy commissioner, said the rescue package for Greece was a "good opportunity" for Greeks, but that he understood they were dissatisfied with the entire crisis.

"The Greeks have many good grounds to vote for the package," he told the German daily newspaper Die Welt. "But there's a lot of frustration and resignation in Greece. If the Greeks actually vote no, the consequences are unforeseeable."

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