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Joe Biden Claims He Was "Personally Involved" In 'Saving' Greece From Grexit
06-05-2017, 06:09 AM,
Joe Biden Claims He Was "Personally Involved" In 'Saving' Greece From Grexit
Joe Biden Claims He Was "Personally Involved" In 'Saving' Greece From Grexit

<p>The Obama administration played an important role to make sure Greece remains in the eurozone, former Vice President Joe Biden said. <a href="">As reports</a>, in an interview to newspaper&nbsp;Kathimerini, <strong>Biden said that he was personally involved in the issue and described the efforts and difficulties he faced to avoid the financial collapse of Greece</strong>.</p>
<p><img height="397" src="" width="600" /></p>
<blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>The Obama administration and you personally also played an important role in making sure that Greece remained a part of the eurozone. Could you describe for us these efforts and the difficulties you faced? Was there a close call when you got very concerned about a Grexit and a destabilized Greece? Do you believe that the risk of a Grexit is gone?</p>
<p><strong>President Obama and I were engaged with all parties in the Greek financial crisis, because we wanted to prevent Greece from experiencing financial collapse.</strong> Grexit would have had very serious long-term consequences for Greece and Europe &ndash; and could potentially have triggered a wider crisis of confidence in the global economy.</p>
<p><strong>We were concerned that in the high-stakes negotiation between Greece and its creditors, failure to reach a sensible agreement would have made all parties much worse off in the end. </strong>But because of each side&rsquo;s desire to secure the best possible terms, this worst-case scenario was a real possibility.</p>
<p>While the ultimate decision was up to the leaders of Greece, the IMF, and the eurozone countries,<strong> I think we helped steer the conversation in a more pragmatic direction because of the credibility we had in Athens, Brussels and Berlin. </strong></p>
<p>We argued with the creditor countries that Greece had been saddled with an unsustainably high debt burden and that reform would only go so far with such a large debt overhang. At the same time, we encouraged the Greek leadership to think about how to demonstrate to its creditors that it had a credible roadmap for systemic economic reform, which was necessary.</p>
<p><strong>While a deal was reached and the worst of the crisis is behind us, we are not yet completely out of the woods. I believe the United States continues to have a role to play in supporting the parties as they move forward with discussions on Greece&rsquo;s economic future.</strong></p>
<p><u><strong>So that's who the Greeks have to <strike>blame</strike> thank for record unemployment, record suicide rates, record poverty, and record taxes.</strong></u></p>
<p>Biden spoke also of the<strong> importance of &ldquo;energy diplomacy&rdquo; </strong>after the discovery of natural gas in Cyprus, Israel and Egypt &ndash; and the potential for discoveries in Greece and Lebanon.</p>
<p><strong><em>&quot;This is an exciting development that could bring about not only economic prosperity, but also enhance regional security through cooperation, collaboration and integration,&rdquo; </em></strong>Biden stressing the necessity for a solution of the Cyprus issue.</p>
<p><em>Full interview&nbsp;<a href="" rel="noopener noreferrer" target="_blank">here</a>.</em></p>
<p>We look forward to Jucker's response to Biden's claims of saving the world...</p>

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