Shame Greece isn't Germany or France

mkpdavies · 01-12-2004, 04:14 PM

They would have been let off for this otherwise.

http://www.euobserver.com/index.phtm...g%2F&aid=17886

Quote:

Athens admitted earlier this month that its deficit figures had broken the EU's three percent limit every year from 1999 onwards, although it had reported figures below the threshold.

No big deal though. As

Quote:

There will be no sanctions levelled at Greece and there is no question of Athens being removed from the 12 country euro zone, although a spokeswoman for Economic and Monetary Affairs Commissioner Joaquin Almunia said "Greece would not have joined the euro with the figure we now have".

And some people want us bin our pound NOW, for the micky mouse currency that is trhe Euro. You couldn't make it up!

Anthony Butcher · 02-12-2004, 01:04 AM

http://www.timesonline.co.uk/newspap...383794,00.html

Quote:

GREECE fiddled its way INTO phpbb_the European single currency and should not have been allowed to join, according to the European Commission and other members of the euro.

In the most embarrassing episode yet to hit the EU’s flagship project, the European Commission started legal action against Greece for “vast discrepancies” in its accounts over a seven-year period.

Revised data show that the country’s finances were in such poor shape that it broke the public borrowing rules every year and has still not met the euro entry criteria. A European Commission spokeswoman said: “It is clear that Greece would not have joined the euro with the figures we have now.”

A spokesman for a leading euro member said: “In international relations, there is a principle of acting in good faith. We should have been more vigilant — and we will be in future.” A spokesman for another euro member state said: “Greece should never have joined, but what can you do? This is terribly embarrassing. It’s definitely damaging confidence in the euro.”

mkpdavies · 07-12-2004, 10:55 PM

http://news.xinhuanet.com/english/20...nt_2306668.htm

Quote:

Eurostat, the EU's statistics body, itself also received a share of the blame but the European Commission, the European Central Bank and even the Council of Finance Ministers itself should also shoulder some of the responsibility, the statement says.

In other words the whole EU is a shambles from top to toe, and the sooner we get out the better!

mkpdavies · 12-12-2004, 11:33 AM

http://news.xinhuanet.com/english/20...nt_2323134.htm

Quote:

BERLIN, Dec. 11 (Xinhuanet) -- EU Economic Commissioner Joaquin Almunia has decided to accept Germany's plan to bring its deficit back on track, a report said on Saturday.

According to the latest issue of German newsmagazine Der Spiegel, Almunia has told German Finance Minister Hans Eichel that Germany's proposals will manage to bring the deficit back to the limit set by the Stability and Growth Pact.

What is the point of rules if you don't stick to them. The EU is a farce. We need to get out, pronto!

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