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A commission set up by the Greek Parliament has handed its report, claiming much of the country’s debt of over US$364 billion, was contracted illegally and should not be paid. Speaker Zoe Konstantopoulou, speaker for the commission, said the debt was “illegal, illegitimate and odious.”
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The Truth Committee’s report found that the adjustment program imposed on Greece has been politically motivated and that the country can not and should not pay the debt imposed by the Troika — the International Monetary Fund, the European Commission and the European Central Bank.
Opposition parties criticize the report, saying it was a political move by the government, but the evidence found by the truth committee could be used in court by the Greek government if it choses a legal route out of its debts.
Eurozone ministers are discussing Greece bailout in Luxembourg on Thursday, with low hopes that an agreement will be reached. German Chancellor Angela Merkel’s allies accused Athens of not taking the situation seriously enough, and various ministers said their patience was running low.
The Truth Committee’s report concludes that the adjustment program Greece has been subjected to “was and remains a politically oriented program,” based on macroeconomic variables and projections at a very technical level. They say the debt is “a direct infringement on the fundamental human rights of the residents of Greece.”
People have been demonstrating against the banks where the Eurogroup meeting is taking place.
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Demonstration in front of building where the #Eurogroup is meeting. "All for the people, not for the banks" #Greece pic.twitter.com/mYInubdPdR
— Eric Maurice (@er1cmau)
June 18, 2015
Several ministers interviewed ahead of the meeting gave their opinions.
Greek Finance Minister Yanis Varoufakis:
Varoufakis: "We want to replace costly discord with consensus" #Greece #Eurogroup pic.twitter.com/vmzOXzuiOe
— Derek Gatopoulos (@dgatopoulos)
June 18, 2015
Slovakia Finance Minister Peter Kazimir:
Slovakia FinMin Kazimir: "#Greece has to face reality ... We have wasted a lot of time. I do believe in miracles" pic.twitter.com/jRKs3I4UG5
— Derek Gatopoulos (@dgatopoulos)
June 18, 2015
Director of the International Monetary Fund Christine Lagarde, who had earlier announced there would be no payment delay for Greece:
IMF's Lagarde says fund "flexible" if Greek proposals "add up" #Greece #Eurogroup pic.twitter.com/MDnqvSuRSM
— Derek Gatopoulos (@dgatopoulos)
June 18, 2015
Irish Finance Minister Michael Noonan told reporters he had no “great expectations” for a positive outcome from the meeting, as it emerged discussions have been taking place in Ireland to prepare for a Greek exit of the eurozone. Wednesday, a spokeswoman for U.K. Prime Minister David Cameron said the country was “stepping up preparations” for a Greek exit of the eurozone.
