January 26, 2015

“The Risky” Greeks and Germans, should ally to request from both of their governments, a vital structural reform.

Sir Tony Barber and Kerin Hope write that “Greek banks rely on the European Central Bank for favourable funding arrangements, which the ECB has warned it will halt without a new agreement between Athens and its creditors” “Greek leftists’ victory throws down challenge to euro establishment”, January 26.

And I just wanted to ask: “Who do small Greek businesses and entrepreneurs rely on for their funding arrangements, if Greek banks are precluded from lending to them, as a result of the credit-risk-weighted equity requirements imposed by the Basel Committee?

It is also reported that “Germany’s central bank president Jens Weidmann said last night he hoped the new Greek government would continue to tackle its structural problems”.

In this respect I can only hope that the “risky” Greeks form an alliance with the likewise perceived “risky” German small businesses and entrepreneurs, in order to require from both of their governments, the structural reform that ends the current odious discrimination against “The Risky” when accessing bank credit.