As it happened – Yanis Varoufakis’ intervention during the 27th June 2015 Eurogroup Meeting

National briefing by Yanis Varoufakis, Minister of Finance of Greece, after the first session of the Extraordinary Eurogroup Meeting — Part in English — 27.06.2015 — Eurogroup/Council, Justus Lipsius building, Brussels is available on the video below:

[For some reason I can’t embed video here — so see my comment below instead]

More specifically, regarding “Grexit”, Varoufakis says:

To those who say that, effectively, this is a referendum on the euro, my answer is: You may very well say this but I shall not comment. This is your judgement, your opinion, your interpretation. Not ours! There is a logic to your view but only if there is an implicit threat that a No from the Greek people to the institutions’ proposal will be followed up by moves to eject Greece, illegally, out of the euro. Such a threat would not be consistent with basic principles of European democratic governance and European Law.

To those who instruct us to phrase the referendum question as a euro-drachma dilemma, my answer is crystal clear: European Treaties make provisions for an exit from the EU. They do not make any provisions for an exit from the Eurozone. With good reason, of course, as the indivisibility of our Monetary Union is part of its raison d’ etre. To ask us to phrase the referendum question as a choice involving exit from the Eurozone is to ask us to violate EU Treaties and EU Law. I suggest to anyone who wants us, or anyone else, to hold a referendum on EMU membership to recommend a change in the Treaties.

Yanis Varoufakis

The Eurogroup Meeting of 27th June 2015 will not go down as a proud moment in Europe’s history. Ministers turned down the Greek government’s request that the Greek people should be granted a single week during which to deliver a Yes or No answer to the institutions’ proposals – proposals crucial for Greece’s future in the Eurozone. The very idea that a government would consult its people on a problematic proposal put to it by the institutions was treated with incomprehension and often with disdain bordering on contempt. I was even asked: “How do you expect common people to understand such complex issues?”. Indeed, democracy did not have a good day in yesterday’s Eurogroup meeting! But nor did European institutions. After our request was rejected, the Eurogroup President broke with the convention of unanimity (issuing a statement without my consent) and even took the dubious decision to convene a follow up meeting without the Greek minister, ostensibly to…

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2 Comments

Filed under austerity measures, Greece

2 responses to “As it happened – Yanis Varoufakis’ intervention during the 27th June 2015 Eurogroup Meeting

  1. Pingback: As it happened – Yanis Varoufakis’ intervention during the 27th June 2015 Eurogroup Meeting | Tinthor's Blog

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