Not a little fishy

So yesterday Dutch Second Chamber moved that Finance minister Jan Kees de Jager (CDA) should lay out all scenarios for the euro-crisis considered by the ministry. The letter sent to second Chamber, however, does not contain any scenario being prepared, or the cost each scenario will involve.
The figures are contained in a confidential briefing for MPs about the likely effect on the Netherlands of three different forms of financial crisis: a general financial crisis, a continuing European debt crisis and a global crisis. (...) The briefing does not mention Greece by name, according to media reports.
If MPs want to know the costs of saving Greece, or of letting Greece default, they can request a briefing, but only under terms of confidentiality. The rationale trotted out is that 'the information is highly uncertain'. But the kicker is this: At their summit in Poland, the ministers of Finance agreed to not publish the numbers for a possible Greek default. The smell wafting down from Wroclaw is fishy. And not just a little.

2 opmerkingen:

Bernd zei

So maybe the only conclusion is that a Greek default would be the cheapest (duh!). If it were financially the worst option, they wouldn't hesitate to go public.

Klein Verzet zei

Yes, that thought has occurred to me as well. No surprise really. This exercise is not about saving the economy. This is about saving the EUnion. As Merkel said: If the euro fall, the EUnion will too. It cannot survive such a blow to its already very fragile credibility.