Oireachtas Joint and Select Committees

Wednesday, 15 July 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Latest Eurozone Developments and Future Implications for Euro Currency: Discussion

2:30 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

I very much accept what Mr. McCarthy states as it absolutely accords with my view. It is not only Mr. McCarthy, Mr. Varoufakis and the left, as Mr. Krugman and anybody looking at this, including the IMF, who state the thing is unsustainable and we will be back in crisis mode in a few months time. The crisis could escalate again this week. A few minutes ago I received a text stating many of the ministers in the Syriza Government have resigned and there is a general strike on the streets against the deal. We do not know what will happen. Mr. McCarthy has stated what the Greeks are being asked to accept is unsustainable and will not resolve the crisis, and we will be back here again. Therefore, do we not have an obligation at this stage to look at plan B? Otherwise, we are simply looking at a dire situation waiting to see what will happen.

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