Greece: better a decent euro-exit instead of a ‘spontaneous Grexit’

In light of the failing negotiations and the lack of prospect for any deal on the position of Greece in the Eurozone, the EU has to face the possibility of a Greek exit from the Eurozone in earnest. The ECPM does realize that this is no easy or good solution either. However, reality has made it clear that the original stand of ECPM parties and politicians against the design of the Eurozone has sadly been proven correct. The alternative presented by the ECPM (CPFE & ChristenUnie Graafland report, 2012) was the right alternative. It is time to for national and European policy makers to replace European ideology with European reality.

It is clear that there is no guarantee that the current party in power in Greece will follow the political route required to remain within the Eurozone. It is not an option either for the EU to wait and hope for an election result that would bring to power a party which politically fits in the Eurozone, in terms of economic policies. This means that even a last-minute deal will not produce a long-term solution either.

However, it would be best to avoid a ‘spontaneous Grexit’ (also known as ‘dirty exit’).  We strongly plea for a cautious and decent exit of Greece from the Eurozone. This means writing off a part of the loans. Furthermore a provision to assist in bridging the financing and management necessary to work towards the national currency. In reference to Greece’s membership of the EU, the ECPM considers that this cannot be any point of discussion.

We believe that the Greek government should be offered as soon as possible a clear exit route in which it will orderly collaborate with EU, ECB and IMF towards a national currency in exchange for (partial) write-offs of Greek debt. Therefore, the ECPM calls for a very quick decision of EU, ECB and IMF to enable this route. A ‘dirty exit’ will lead to the same loss of loans and additionally to a sharp and sudden fall of the stock-markets. We remind the ECB, EU and Eurozone leaders that the EU is not merely a unity of open markets but also a unity of peoples and values. These values dictate a timely and responsible decision that respects the human dignity of the Greek people and enables a European future for Greece. A different currency is not a different community. While a ‘spontaneous Grexit’ will weaken the EU considerably, an orderly exit will show the unity and strength of the EU as community of peoples. 

Finally, the ECPM repeats its call for serious reform of the EU and invites all those who envision a new and value-based direction for the EU to work with us for a better EU that offers a real future. 

The European Christian Political Movement is a growing European political party recognised by the European Parliament in 2010. The ECPM is represented in 14 EU Member States and its MEP’s belong to the ECR Group. The goal of the ECPM is to spread Christian-democrat values in European society and politics and to unite people around these values. ECPM Members are from all major Christian denominations in Europe.

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