2015-11-07www.socialeurope.eu

``But a second, more bleak scenario cannot be dismissed out of hand: in any renewed clash between the Eurogroup and the Greek government over the course of the reforms, Greek savers could face being penalized again if only to demonstrate that Brussels is perfectly capable of enforcing its rules over "undisciplined countries". At present, many analysts in southern European countries are sceptical about the real enforceability of the "bail-in" clause, especially when a common EU deposit insurance scheme remains on the drawing board. In this perspective, Greece can once again be the "canary in the mine" -- useful to show to other Mediterranean countries that the bail-in rule can be and will be applied. Whatever happens, the sacrifices for the Greek people have just begun -- again.''



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