Sarkozy: Letting Greece Join Euro Was a Mistake

Country wasn't ready to be part of eurozone, he says
By Rob Quinn,  Newser Staff
Posted Oct 28, 2011 2:22 AM CDT
Updated Oct 28, 2011 5:08 AM CDT
French President Nicolas Sarkozy speaks during a media conference after an EU summit in Brussels yesterday.   (AP Photo/Geert Vanden Wijngaert)
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(Newser) – Nicolas Sarkzoy has made it clear that tensions remain in the eurozone despite agreement on a debt crisis deal. The French president says that while he backs reforms intended to allow Greece to remain in the euro, it was a mistake to let the country join the single currency a decade ago because the country's economic figures were false and it wasn't ready, the Guardian reports. "If the euro had exploded on Wednesday night, all of Europe would have exploded," he told French TV. "If Greece had defaulted there would have been a domino effect carrying everyone away."

Greek officials weren't happy about their country being singled out by Sarkozy. "Greece is in the middle of the storm, but it is not the source of the problems of European debt and deficits," Greece's foreign minister told the BBC. "We see this with Portugal, Ireland, Spain, and Italy. So it doesn't help to scapegoat a particular country when you're dealing with a European problem."

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