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Syed Kamall: The Greek people have torn the euro’s sticking plaster from the wound

5 July 2015

Syed Kamall: The Greek people have torn the euro’s sticking plaster from the wound

European Conservatives and Reformists Group chairman and Conservative MEP for London, Syed Kamall MEP responded to the Greek referendum.

Responding to the Greek referendum, European Conservatives and Reformists Group chairman and Conservative MEP for London, Syed Kamall MEP said:

“For years Europe has been placing sticking plaster over the Euro’s open wound. The Greek people have just torn it off.

“The voice of the Greek people is being heard tonight and it will shake the notion of some European leaders who believe that the peoples of European nations will always blindly vote for further integration and will always take rather than leave the offer on the table.

“We will see in the coming days how Greece’s creditors react but it would require the mother of all political fudges to give substantially more than they have already. Other eurozone countries have voters and taxpayers to consider too.

“There are no easy choices here. There are no winners.The Greek people want to be able to control their own economy and they should be allowed to. But sadly that is not what they signed up to when they joined the Euro.

“He who pays the piper gets to call the tune. Richer states have to be honest that keeping the euro together will need fiscal transfers to poorer states, but poorer states have to understand the richer states will want to set the rules.

“If the Greek people can take advantage of devaluation to become a more attractive destination for investment and tourism then the least worst option may now to be for Greece to leave the euro. However, if they simply wait for a better offers, this would not solve their long term problems. We have reached such an impasse that devaluation and decoupling may be the long term option.

“In the coming days the Greek people are going to face some dark moments and I hope that the EU will not seek to punish them for their democratic choice. If they seek the EU’s help in the coming days, it must react with compassion and understanding to find a long term sustainable solution.”

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