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European Trade Unions Warn IMF & EU Need To Be Flexible With Greece Over Debt Crisis

The European Trade Union Confederation(ETUC) has said people need to think long and hard before pushing Greece out of the Eurozone.

“Decisions by the ECB and Eurogroup Finance Ministers are pushing Greece towards the exit” said Bernadette Ségol. “Everyone should stop and think of the potentially disastrous consequences.” said ETUC General Secretary Bernadette Ségol.

A Grexit is hugely risky for the Euro, for the EU economy and for Greece. The EU would be taking a big gamble on markets keeping faith in the Euro if it waved goodbye to Greece.

The General Secretary also said “Grexit would undermine the credibility of the Euro, could derail Europe’s modest economic recovery and create tensions in South East Europe. All for the sake of imposing yet more austerity on a country already on its knees. The offer from the Eurogroup condemns Greek people to more misery without any prospect of growth. More austerity and cuts in a country where well over one in three people are below the poverty line would seriously destabilise Greek society.”

The General Secretary also highlited The EU and IMF has to show more flexibility and reach a compromise with Greece which includes debt rescheduling and debt relief, and finance for social emergencies and reviving investment.

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