Com­mis­sion ‘wor­ried’

Kathimerini English - - Front Page -

The Euro­pean Com­mis­sion has a “pro­found sense of foreboding” about Greece and the fu­ture of the eu­ro­zone, ac­cord­ing to an ac­count of a meet­ing be­tween EU com­mis­sion­ers in Brus­sels yes­ter­day that was leaked to the BBC.

The ac­count said the com­mis­sion­ers’ concern was in re­ac­tion to the “damn­ing fail­ure” of eu­ro­zone min­is­ters to agree a new bailout for Greece this week. The doc­u­ment said any de­fault on Greek gov­ern­ment debt would leave Greek banks in­sol­vent and “threaten the vi­a­bil­ity of the ECB [Euro­pean Cen­tral Bank] it­self,” which owns 49 bil­lion eu­ros of Greek bonds.

EC Pres­i­dent Jose Manuel Bar­roso was said to have re­marked that the mar­kets would “smell blood” at this divi­sion be­tween the ECB, which is set against any form of Greek de­fault, and Ger­many, which wants banks to write off some of their in­vest­ments in any sec­ond bailout.

The Euro­pean Com­mis­sion said it would not com­ment “on anony­mous in­ter­pre­ta­tions of meet­ings.”

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