The President of the EU Commission, Jean-Claude Juncker, seems to favour the suggestion that the EU-wide Emergency Fund should be used to help Greece !
Obviously permission to do this must first be obtained from EU Council, but technically any loan to Greece must be made via the EUROZONE, not directly by the EU ! If Greece defaults, the loss should in no way be borne diectly by this Emergency Fund, it should be borne by the EUROZONE !
EU Council Leaders, when they vote, must prevent the establishment of a legal precedent.
Even if Greece is at the moment facing a crisis, several other potential EU emergencies are already on the horizon for which this fund could be needed.
Greece needs help, that is clear. Alas a lot of Loans must now be written-off, which the IMF has quite correctly affirmed. Already, more than six months ago, did Tsipras not make this his leading objective in his Election speeches ?
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