Poul M. Thomsen
Last quote by Poul M. Thomsen
Poul M. Thomsen quotes
Look you, Mrs. Merkel, you face a question: you have to think about what is more costly, to go ahead without the IMF–would the Bundestag say 'The IMF is not on board?', or [to] pick the debt relief that we think that Greece needs in order to keep us on board?
What is going to bring it all to a decision point? In the past there has been only one time when the decision has been made and then that was when [the Greeks] were about to run out of money seriously and to default. […] And possibly this is what is going to happen again. In that case, it drags on until July, and clearly the Europeans are not going to have any discussions for a month before the Brexit….
I am not going accept a package of small measures. I am not….
The standard pensions in nominal euro terms are broadly similar in Greece and Germany, even though Germany – measured by the average wage – is twice as rich as Greece.
The new government has not only fully endorsed the programme but underscored that it intends to implement key measures ahead of time.
We are confident that Greece will be able to return to the market during the program period. But whether it will be able to return to a market on a scale that will allow it to borrow and not only to roll over obligations to the market, but also to repay the IMF and the European partners, that is admittedly, a question.
The programme will, in the coming months, employ a number of measures to strengthen the expenditure control of these subnational levels and this will clearly be a key challenge facing the government.