According to Zyskowicz, Greece’s default, should it take place, would no longer mean an uncontrollable spread of the debt crisis throughout the eurozone. He says that the eurozone and its banking systems are prepared for a possible financial collapse in Greece and the country’s exit from the common currency.
Zyskowicz commented on the situation in Greece in an interview with Yle and gave similar statements to the newspaper Lapin Kansa.
The Financial Times reports that Greece is planning to seek a two-year extension on its austerity programme this week. The country would require an additional 20 billion euros to make it work, but it aims to find the funds without resorting to eurozone aid, according to the FT.
“If Greece cannot or does not want to fulfil the conditions of the second bailout, then the next tranches of this second bailout should not be paid out,” Zyskowicz said.
A lesson to others
The National Coalition MP spoke out against yet another rescue package for Greece—partially, he said, to show other crisis-hit states such as Spain and Italy that they need to do much more to improve their economy than they are currently doing.
“My faith in the entire bailout policy has been shaken by new countries joining the ranks of those who require aid. Today I’m of the opinion that the crisis cannot be stemmed, prevented or stopped by bailouts alone. Rather, it requires greater sacrifices than now from the affected countries,” Zyskowicz said.
“The current situation is a sort of moral hazard. Some countries have muddled their affairs and other countries’ taxpayers have to, naturally in their own interest, take financial responsibility.”
However the MP strongly believes that Finland ought to stay in the euro. According to Zyskowicz, the issue at hand concerns Greece only—and not the collapse of the entire eurozone.
He says these are his own opinions, but the National Coalition parliamentary group will also consider the matter this week.