Trump EU Ambassador Candidate Ted Malloch: “Strong Reason for Greece to Leave the Euro”

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Ted Malloch, U.S. President Donald Trump’s pick to be his Ambassador to the European Union went on the record during a Bloomberg interview, suggesting that there was a “strong reason” for Grexit— or Greece’s exit from the Eurozone.

Malloch, an economist who has ruffled feathers by comparing the EU to the Soviet Union and saying the bloc needs “taming”, has drawn widespread condemnation from European leaders and a widespread campaign is underway to reject the nomination in Brussels.

During his interview with Bloomberg, Malloch said that although he didn’t want to speak on behalf of the Greek people but “I think there is probably— from an economist’s perspective— a very strong reason for Greece moving away from the euro.”

The position seems to echo that of President Donald Trump who, back in 2012, suggested (in a Tweet) that Greece should go back to the drachma and the country was “wasting time” in the Eurozone.

Watch the interview question about Greece and the Eurozone:

 

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3 Comments

  1. This short statement is being blown out of proportion. It’s simply not America’s call and never has been. Funding for Greece is completely up to Europe. And you can be sure that under Syriza, Greece’s 2018 financing needs will not be something the market will provide cheaply. Under a new pro-business government the markets would clearly take a different tack.

  2. Yeah right. I bet that man does not even know basic facts about Greece. How big Greeces GDP is, Greeces geostrategic position and it’s neighbors and how dependendent Greece is on funding and imports from Europe. I am sick and tired of every nationalist isolationist clueless person who just does not care what happens to Greece and the Greeks giving advice based solely on the notions in his head regading free trade agreements and tarifs. He asumes Greece is a country that has reserves and sufficient exports to back up a currency just like Paul Krugman assumed we were prepared for the devastation that the Grexit would have brought about. I will hear none of it and neither should any other Greek. It is very likely Trumps isolationist agenda will miserably fail the Americans as well because the benefits of being in a country that enjoys free trade ouweigh the penalties he may impose on car manufactuirers that produce their vehicles in mexico.

  3. It is hard to understand why he left out the consequences to the EU of a Greek exit. The Greek currency would collapse, massive defaults will occur, and the creditors won’t just experience a “haircut”, they will lose everything they have loaned to Greece, as will major investors. Greece would be unable to find lenders. The currency collapse would cause severe inflation and destroy trade. Unemployment would soar. Not to mention the domino effect of derivatives. Germany has said they will work on a “go it alone” structure if the IMF doesn’t participate. Malloch says they won’t. Why does he think he knows more about Germany than their own finance minister does? The U.S. has no influence on the EU. Thankfully.

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