German Chancellor Angela Merkel has called German MPs to approve of the resumption of negotiations between Greece and the European Support Mechanism (ESM) for a bailout package, while stressing that any aid given to Greece will be “under close monitoring”.
Although Mrs. Merkel had been critical of the Greek authorities in recent months, over the stance they adopted in the negotiations, she argued that the approval of a list of austerity measures on Wednesday by the Greek Parliament demonstrated determination and as such, must remain in the Eurozone.
According to the German Chancellor, the credibility and trust in Greek authorities (“the greatest currency”) was lost when Prime Minister Alexis Tsipras called the referendum. She explained Europe then had three options “to change the rules, abandon Europe or to cooperate in finding a solution”. Mrs. Merkel insisted that a haircut of the Greek public debt was not possible.
The agreement reached in Brussels was difficult, especially for Greece, she stated, because the authorities must yield results. The German Chancellor further noted that “we did not only decide for Greece but for a powerful Europe and Eurozone; we do not only do it for the people in Greece but also for the people in Germany”.
