President of German BDI industrial federation Grillo: Losing patience with Greece; Country cannot stay in eurozone at all costs - German press
- Says: Greece needed to "immediately" come to terms with its creditors.
Greece Can't Stay in Eurozone at All Costs, Says BDI President
FRANKFURT--The president of Germany's BDI industrial federation, Ulrich Grillo, said he is losing patience with Greece, adding that the country can't stay in the eurozone "at all costs."
In an opinion piece for daily newspaper FAZ published Saturday, Mr. Grillo said Greece had to realize it could no longer pursue a "national-only development path"--financially and socially--while at the same time being part of the eurozone. A member state that is tainted by "chronic indebtedness and lack of competitiveness," he said, has no option but to adjust significantly to the other eurozone countries.
In his opinion, Greece needed to "immediately" come to terms with its creditors. Another option, he said, would be to make it possible for a member state to voluntarily exit the eurozone in an "honorable and worthy" way.
In 2013, Mr. Grillo suggested Greece should start selling state-owned property and companies to help pay back its debt.
In comparison with the BDI, other German industry associations have been reserved in their criticism of Greece.