Varoufakis Blasts ECB ‘Has Lost Control Of Monetary Policy’ As Germany Tells Greece: ‘There Is No Way Out’

Yanis Varoufakis Sums Up Europe In One Sentence

–  Varoufakis Blasts ECB “Has Lost Control Of Monetary Policy” As Germany Tells Greece: “There Is No Way Out” (ZeroHedge, Feb 9, 2015):

“There is no way out” for Greece from its treaty obligations warns German lawmaker Michael Fuchs (Angela Merkel’s deputy caucus chairman) telling Bloomberg TV that conditions set for Greece by The Troika (EU, ECB, IMF) for bailout funds “have to be fulfilled…. That’s it, very simple.” The Greeks remain adamant that they will not ask for an extension to the bailout mechanism with both Tsipras and Varoufakis confirming that a bridge agreement is required and the latter adding “the ECB has lost control of monetary policy,” demanding the Troika structure come to an end. Then German Finance Minister Wolfgang Schaeuble exclaimed at the G-20 meeting that “Greece either has to find a way to get bridge financing, or, if they want to do it with us, they need a program,” seeming to push the door open to possible Russian financial aid for Greece as Europe’s pivot to Putin appears to be rising.

Germany To Greece…

“Greece either has to find a way to get bridge financing, or, if they want to do it with us, they need a program,” German Finance Minister Wolfgang Schaeuble tells reporters at G-20 meeting in Istanbul.

German lawmaker Michael Fuchs, deputy caucus chairman of Chancellor Angela Merkel’s Christian Democrats in parliament, says “there is no way out” for Greece on its treaty obligations.

Conditions set for Greece by EU, ECB, IMF for bailout funds “have to be fulfilled,” Fuchs tells Bloomberg Television.

“That’s it, very simple.”

Greece To Germany…

  • *TSIPRAS SAYS GREECE WILL STOP ASKING FOR NEW LOANS
  • *TSIPRAS SAYS GREECE TO SUBMIT 4YR PLAN FOR GROWTH AND REFORMS
  • *VAROUFAKIS: TROIKA STRUCTURE MUST COME TO AN END
  • *VAROUFAKIS: GREEK BAILOUT DEAL SAVED EURO-AREA BANKS
  • *VAROUFAKIS: WE’RE LOOKING FOR A BRIDGE AGREEMENT
  • *VAROUFAKIS: ECB HAS LOST CONTROL OF MONETARY POLICY
  • *VAROUFAKIS: TROIKA STRUCTURE MUST COME TO AN END

Meanwhile, the Austrians are living in a fairy tale…

  • *AUSTRIA’S FAYMANN SAYS WILL DO ANYTHING FOR GREEK SOLUTION
  • *AUSTRIA’S FAYMANN SAYS WANTS HAPPY ENDING FOR GREEK PROBLEM

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1 thought on “Varoufakis Blasts ECB ‘Has Lost Control Of Monetary Policy’ As Germany Tells Greece: ‘There Is No Way Out’

  1. No way out? Even I can a very simple way out. Sounds like the Germans are getting scared because they can see the same simple way out that I can…..Russia isn’t going to give Greece a cent if it is to go into the coffers of the G-20. Russia has made it very clear: Leave the EU, and we will help you.

    Greece must leave the EU, file bankruptcy, leaving the ECB and the Germans without payment. Then, they will join BRICS, and become a satellite of Russia, accepting food and funds from them. They offer Russia a great location for bases….Cyprus is but the beginning.

    The ECB made all nations who borrowed money from them to promise to take funds from no other sources, one more demand that is absurd. Russia is moving into Europe, and as these other nations who lied to the EU teeter on the verge of bankruptcy, Russia and BRICS will be there for them. Spain and Italy are next. Cyprus has already offered the Russians a base on their land, not far from NATO……the US blabber mouth entity.

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