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Parliamentary questions
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17 November 2014
Question for written answer E-009353-14
to the Council
Rule 130
Kostas Chrysogonos (GUE/NGL) , Sofia Sakorafa (GUE/NGL) , Emmanouil Glezos (GUE/NGL) , Georgios Katrougkalos (GUE/NGL)

 Subject:  ‘Haircut’ of Greece's public international debt
 Answer in writing 

Ex-US Treasury Secretary Timothy Geithner recently revealed that the Greek fiscal adjustment programme had been designed from the outset to be punitive in character: he had heard this from his counterparts — the finance ministers of the four largest European States — at the G7 summit in Canada in February 2010(1). Today, almost five years after those discussions, the Greek economy has suffered a collapse unprecedented in peacetime, with a fall in GDP of about 25% and a soaring public debt amounting to 175% of GDP; at the same time, Greek society has been plunged into poverty, with around 27% of the workforce being unemployed and 44% of the population living below the poverty line(2).

In view of the above, will the Council say:

1. Is the collective punishment of an entire people for the ‘sins’ of the professional politicians who were in power consistent with the principle of ‘solidarity’ proclaimed in Article 3 TEU?
2. When will the punishment imposed by the fiscal consolidation programme finally come to an end and when will lenders in the ‘official’ sector recognise that the Greek debt cannot be repaid or serviced and proceed with the inevitable ‘haircut’ (Official Sector Involvement-OSI)?


Original language of question: EL 
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