Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Anti-austerity demonstrators outside the Parthenon in Athens on Monday. STR/AP/Press Association Images

Olli Rehn: There is no Plan B to avoid Greek default

EU Commissioner says Greece has to pass its austerity package because the future of Greece “and financial stability in Europe are at stake”.

EU COMMISSIONER Olli Rehn has issued a statement calling on Greece to pass its €28bn austerity package, despite the plan’s unpopularity.

Rehn says that Greece faces a “critical juncture”, but must pass its package because the future of Greece and the financial stability of Europe in general “are at stake”.

The commissioner was clear that there is no other option open to Greece in avoiding a default:

The only way to avoid immediate default is for parliament to endorse the revised economic programme. The programme includes both the medium-term fiscal strategy and the privatisation programme. They must be approved if the next tranche of financial assistance is to be released.

To those who speculate about other options, let me say this clearly: there is no Plan B to avoid default.

The European Union continues to be ready to support Greece. But Europe can only help Greece if Greece helps itself.

All in all, the Greek people and their democratic representatives now face a critical choice. Reforming the economy is certainly challenging, but it remains a far better alternative than a default, which would hit the most disadvantaged and vulnerable hardest. I therefore call on Greece’s political leaders to assume this responsibility, and at the same time to look for next steps and to create a necessary political consensus, taking the whole nation forward to overcome the current challenges.

Rehn also said that the package was about “social justice”, including fighting tax evasion and developing entrepreneurship in support of “honest work”.

Thousands of people have taken to the streets of Athens today at the start of a 48-hour general strike in protest against the austerity package. The Greek parliament is due to vote on the measures tomorrow and on Thursday.

Read Rehn’s statement in full >

Read: EU leaders developing Plan B in case of Greek default >

Read: Two-day strike kicks off in Greece over austerity plan >

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Close
3 Comments
    Install the app to use these features.
    Mute Mike Clinton
    Favourite Mike Clinton
    Report
    Jan 12th 2013, 10:39 AM

    Seriously, why bother.They are only ego boosted humans.

    108
    Install the app to use these features.
    Mute Chris Massey
    Favourite Chris Massey
    Report
    Jan 12th 2013, 10:43 AM

    Your brother Bill wouldn’t be impressed with the comment Mike!!

    396
    Install the app to use these features.
    Mute 5☆Fily
    Favourite 5☆Fily
    Report
    Jan 12th 2013, 10:45 AM

    Ego boosted ?

    That’s what people who give their time for charity are called is it ?

    50
    Install the app to use these features.
    Mute Con Kennedy
    Favourite Con Kennedy
    Report
    Jan 12th 2013, 10:39 AM

    I’d meet with my fans for the cost of a few jars in Mulligan’s in Poolbeag Street

    89
    Install the app to use these features.
    Mute Paul duff
    Favourite Paul duff
    Report
    Jan 12th 2013, 11:17 AM

    Fiver to meet the cast of tallafornia any takers!

    60
    Install the app to use these features.
    Mute Lester Jeffcoat
    Favourite Lester Jeffcoat
    Report
    Jan 12th 2013, 1:25 PM

    A fiver? I couldn’t do it for less than €100 and a pair of earplugs.

    23
    Install the app to use these features.
    Mute Colm Flaherty
    Favourite Colm Flaherty
    Report
    Jan 12th 2013, 8:15 PM

    Can I pay a fiver to avoid them?

    11
    Install the app to use these features.
    Mute Eamonn Connaghan
    Favourite Eamonn Connaghan
    Report
    Jan 12th 2013, 11:36 AM

    Why is tyson considered a hero? He is a drug addicted, woman abuser and convicted rapist. What a lovely man.

    52
    Install the app to use these features.
    Mute Marilyn Maroney
    Favourite Marilyn Maroney
    Report
    Jan 12th 2013, 2:01 PM

    Eamonn, all the druggies and women beaters want to meet their heros too :)

    13
    Install the app to use these features.
    Mute Frank2521
    Favourite Frank2521
    Report
    Jan 12th 2013, 11:13 AM

    Bono’ s misses and kids must be broke if he charges that much.

    43
    Install the app to use these features.
    Mute 5☆Fily
    Favourite 5☆Fily
    Report
    Jan 12th 2013, 11:54 AM

    He didn’t charge anything, your having a go at him for zero reason. It was charity auctions, if it had been just €100 euro raised Bono et al would have still honored the commitment

    You obviously didn’t read the article.

    48
    Install the app to use these features.
    Mute Tony Skillington
    Favourite Tony Skillington
    Report
    Jan 12th 2013, 11:25 AM

    28k to meet Bon Jovi? What’s he going to do…ask you for the receipt before he comes out of his dressing room? I wouldn’t open the curtains to see him if he was standing in the garden.

    41
    Install the app to use these features.
    Mute c.walsh
    Favourite c.walsh
    Report
    Jan 12th 2013, 1:52 PM

    Im a bit weary of peeping tom’s too.

    6
    Install the app to use these features.
    Mute Paul Doyle
    Favourite Paul Doyle
    Report
    Jan 12th 2013, 11:08 AM

    Imagine what would happen when its pay up time and u said to Tyson….. “Now u know I’m paying in butter vouchers” haaaaa,

    32
    Install the app to use these features.
    Mute Kedgeo
    Favourite Kedgeo
    Report
    Jan 12th 2013, 11:22 AM

    If and a big IF money wasn’t an issue I think I’d love to hang out with bill c for weekend. I’d say he is great fun-imagine going pulling a few Sheila’s with him,oh the crack would be 90

    30
    Install the app to use these features.
    Mute Jenni
    Favourite Jenni
    Report
    Jan 12th 2013, 11:13 AM

    I’m kind of glad Bono earned the most amount of money, being all about Charity I’m sure he was glad too. Makes you proud to be Irish :-)

    27
    Install the app to use these features.
    Mute 180maximum
    Favourite 180maximum
    Report
    Jan 12th 2013, 11:24 AM

    You could make yourself a handy ?200 meeting the cast of fair city! I believe that’s what they’re paying to meet people these days..:)

    20
    Install the app to use these features.
    Mute Kedgeo
    Favourite Kedgeo
    Report
    Jan 12th 2013, 11:34 AM

    Ha ha ha

    6
    Install the app to use these features.
    Mute chair man
    Favourite chair man
    Report
    Jan 12th 2013, 11:35 AM

    Some people have far to much money and not enough sense.

    16
    Install the app to use these features.
    Mute Rob Henderson Jr
    Favourite Rob Henderson Jr
    Report
    Jan 12th 2013, 1:54 PM

    Celine Dion has gone really downhill, she’s playing in a tapas bar in Malaga called Los Vegas these days apparently.

    12
    Install the app to use these features.
    Mute Derek Larney
    Favourite Derek Larney
    Report
    Jan 12th 2013, 4:05 PM

    They’re all pretty cheap compared to Warren Buffet, he has being offering himself for an annual charity lunch for the last 12 years now. The auctions happen on ebay and are open to all. Back in June a man paid a cool $3.46m to have lunch with him, up on the previous years $2.6m. He’s raised over $14m for charity since he’s being doing it.

    And Bono can only get $161,000, pah !

    9
    Install the app to use these features.
    Mute ivy mike
    Favourite ivy mike
    Report
    Jan 12th 2013, 12:17 PM

    As long as it’s charity,,,,, then the more the better.

    8
    Install the app to use these features.
    Mute chair man
    Favourite chair man
    Report
    Jan 12th 2013, 1:02 PM

    why not just give the miney directly to charity and cut out all the ego massaging and celebrity worshiping

    11
    Install the app to use these features.
    Mute 180maximum
    Favourite 180maximum
    Report
    Jan 12th 2013, 12:47 PM

    How much would the single, or married men, that post here pay to spend the the day with the lovely Michelle Hennessey? What do ya mean Michelle’s booked out? Alright then I’ll spend the day chilling with that Bono lad then Mr agent…….

    7
    Install the app to use these features.
    Mute chair man
    Favourite chair man
    Report
    Jan 12th 2013, 1:13 PM

    Wouldn’t spend anything nor waste my time on this sort of trivial nonsense

    4
    Install the app to use these features.
    Mute Buckwheat MacMillan
    Favourite Buckwheat MacMillan
    Report
    Jan 12th 2013, 1:18 PM

    Or night

    2
    See 1 more reply ▾
    Install the app to use these features.
    Mute Tony Skillington
    Favourite Tony Skillington
    Report
    Jan 12th 2013, 1:34 PM

    Hw much would anyone pay to spend the day with Enda..?

    8
    Install the app to use these features.
    Mute Alan Dooley
    Favourite Alan Dooley
    Report
    Jan 12th 2013, 12:48 PM

    Hey, it’s a way of making money. You’d do it too if someone offered you 20k to spend time with you. An odd business, but a business all the same.

    Oh and editors, it’s ‘Las Vegas’

    5
    Install the app to use these features.
    Mute Kitty Prendergast
    Favourite Kitty Prendergast
    Report
    Jan 12th 2013, 1:51 PM

    CHARITY.

    10
    Install the app to use these features.
    Mute Andy Murray
    Favourite Andy Murray
    Report
    Jan 13th 2013, 10:04 AM

    The bit about Diddy was brilliant. Just brilliant. Well done Mr/Ms Business Insider.

    1
Submit a report
Please help us understand how this comment violates our community guidelines.
Thank you for the feedback
Your feedback has been sent to our team for review.
JournalTv
News in 60 seconds