“Heads of State and Government must take the lead and find a solution before the end of the week”, say S&D Euro MPs

S&D Euro MPs urge EU heads of state and government to convene an extraordinary meeting after the negotiations on Greece broke off today at the Eurogroup.

S&D Group leader Gianni Pittella stated:

“The Eurozone is now entering troubled waters following the rejection of the Greek bailout extension. All efforts must be done to prevent a Grexit.

The elements for a decent compromise remain on the table. The differences between the creditors’ proposals and the Greek government can be bridged if everyone is ready to make an effort. The heads of state and government should now take the lead and find a solution before the end of the week. The European Commission also has now a crucial role to play as a facilitator.

It is not the time to further punish the Greek people. Everything must be done to keep the financial flows inside the country. Confronted with an unprecedented situation, Greek people must be offered the chance to choose their future. We are not afraid of any referendum.”

S&D Group vice president Maria João Rodrigues added:

”We need to come up urgently with a credible and socially sensible solution to resolve this crisis and prevent the unthinkable. European citizens cannot understand European leaders’ inability to find a compromise deal after five months of negotiations.

A massive financial, economic, social and political disaster is looming if Greece is cut off from financial flows and pushed out of the Eurozone. The knock-on effects may also get out of control. It is incredible that at this late stage, national leaders would take ever-greater risks and only refer the matter back to the Eurogroup.

The Greek crisis is also a top geopolitical issue for Europe: Greece is a vulnerable border country, highly exposed to acute pressures from Russia, the war in Syria and Iraq and the refugee crisis. Those who treat the current standoff purely as a financial crisis are playing with fire next to a barrel of gunpowder.

For all these reasons, responsibility for finding the solution to the Greek case must be taken at the European institutions’ highest level, i.e. by the Heads of State and Government.”