On this day the European Union President declared that Greece would be forced to pay its loans, in one form or other, by submitting legal action against the country with the European Court of Justice.
Series II of Greece Starts The Rot: Greece Under Fire Part 07Whilst the European Union deemed it legal for it to issue orders to seize Greek assets throughout the EU territories outside of Greece, albeit this had been challenged by Greece, the European Commission accepted that assets within Greece was another matter and viewed that an injunction from the Court was required for it to be legal.
The Greek government already issued a challenge against the EU seizure order, in the very same Court, arguing that
the European Commission had no legal right to arbitrarily seize its international assets.
EU member Cyprus refused outright to follow such orders from the European Union President Jean-Claude Juncker whilst several others, including Britain, deferred on the seizures awaiting the decision by the Court of Justice on the matter.
Several other countries, however, including both Germany and Poland, seized several billion euros worth of Greek assets, from bank accounts to corporations, as per their instructions from Juncker.
Greek Prime Minister Alexis Tsipras said "We are confident that our challenge to the Juncker junket will fail as the sovereignty of all member states of the EU is paramount".
"But now the EU President wants to take over our country. Many have tried before and failed. He too will fail," declared Tsipras.
Nevertheless Juncker replied that everyone, from individuals to countries, must be held accountable for their
actions. "Essentially all we are doing is ensuring our losses are covered by Greek defaulting on their loans".
"Any bank, any lending institution, has the right to do this. The EU has the right to do this", said Junker.
"As President of the European Union I will uphold my pledge to all the citizens of the Union to ensure that they do not become victims of other people's recklessness. We will do whatever is required to ensure this will not happen".
"I have no doubt that the Court will thus guarantee our legality and legitimacy on this matter of direct intervention in Greek affairs," declared the EU President.