'Euro is nonsense, Greek bailout illegal'

A currency expert protesting against Greece's bailout says the bailout mechanism violates the provisions of the Treaty on European Union, and it may be a better option to stop the euro experiment instead. The European ministers recently agreed on a 110-billion euro rescue package for Greece, hoping this would prevent a default and stop the currency's crisis from spreading through the rest of the bloc, and Germany has been opposed to the idea from the very beginning. Dr. Wilhelm Hankel is one of the currency experts who filed a lawsuit in the German constitutional court against Greece's bailout. "The whole idea is illegal, because we have the treaty for the European community, and bailout is completely forbidden for a very simple reason: a country which can count on being bailed out will not follow the financial and monetary discipline, so no bailout is a precondition for a stable euro," Hankel said.

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News & Politics

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• Laura Emmett
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• Hankel
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• Eurozone
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• interview
• financial policy
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• Europe

[themightyjoseph]

@curzond This isn't a propaganda, you moron. This is common sense. Fifteen countries sharing the same currency? That to me sounds like a disaster waiting to happen, and it has in some way happened.

[martinbelmont]

I beg german and french to vote their politicians out. They are criminals.

[bgtop9962]

@KowBoySpace

Yes, Germany is the usual suspect.

[KowBoySpace]

Its not quite the conspiracy in ways people think, however, the leaders do want a political union and have for years, they want to get it now by force so that people owe so much money they have no choice. Germany has no way back, if it had its own currency now and the Euro collapsed its currency would be so strong exports would die. Exports are its business. So now, they are trying to keep Greece alive, barely, but in perpetual sufference, so that their own economy can continue..

[iranwarcom]

Wow, Greece bailout was given right before High gas prices. The crooks will play the blame game and default or a war with Iran will start and they will walk way like nothing happen. If you think i am wrong, just follow the Barrel of oil prices

[SuperPirateTV]

@expressssssssssss why the hell you talk bullshit like that?germany has payd billions to greece after war.germany got not one little piece of gold after ww2.if you look for greek gold ask americans

[bayhoecott]

I totaly agree this is a conspiracy to distroy the Greek people and everything the ordinary Greek people. When oh when are we going to get our vote on the european union.

[RedGoblinus]

@bayhoecott The Greek people could declare their debt to the German Frankfurter Euro banksters as an 'Odious Debt' - as is their right under international law - and pay back none of it. The Greek people would then be well advised to leave the hopelessly corrupt and criminal led European Union project immediately. Also, the sooner we in the UK are given a referendum on our EU membership the better - I'll be voting to come out of the EU.