WASHINGTON, Apr 19: It is Greece and not Europe which will be hurt by any problems stemming from the Greek financial situation, because Europe has built buffers to protect itself, French Finance Minister Michel Sapin said.
“If something damaging happens, it will be for Greece that it will be serious, for the Greek people, not for the other countries of the euro zone. We’re not at all in the same situation that we were in four or five years ago,” Sapin told reporters. “We have learned to build walls to protect ourselves, to protect the banking system, to protect other countries which could become fragile, if something happens in Greece. So Europe is much stronger. Europe has sheltered itself from turbulence. The danger is for Greece.” He was speaking during the spring meetings of the International Monetary Fund and the World Bank. “Greece must respect the rules that apply to all countries…in the euro,” Sapin said. “Greece has signed not only a memorandum, but has signed treaties, has signed commitments. These commitments must be respected.” (AGENCIES)
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