Statement from Molly on latest bailout offer to Greece

Molly Scott Cato, Green MEP has responded to the latest offer to Greece from Eurozone leaders [1]. Dr Scott Cato, who is an economist and member of the European Parliament’s Economics Committee, said:

“This bailout agreement that involves a new round of punishing austerity measures and places Greek assets outside government control in a way that is totally unacceptable for a sovereign state. Tsipras has accepted loss of control of the Greek economy without any evidence of the creditors agreeing to genuine debt relief in return. Given the extent of Greece’s debt this is a deal that simply cannot work. In light of the Oxi referendum it also seems to be a deal that Tsipras will find very difficult to sell back home.”
Molly Scott Cato has been responsible for peer review publications on currency, and was a member of the national committee of the No to Euro campaign a decade ago. 

[1] Euro Summit Statement from the European Commission