Financial Times
June 28, 2011
Olli Rehn is nobody’s idea of a hothead. A mild-mannered Finnish economist, he is regarded, even by his countrymen, as unassuming – verging on dull.
But twice in recent days Mr Rehn, who is the European Union’s senior economic official, has been forced to get angry.
At an emergency meeting of finance ministers a week ago Mr Rehn came down like a ton of bricks on Greece’s finance minister, Evangelos Venizelos, who had the temerity to suggest reopening talks on the €28bn ($40bn) austerity package that Athens must pass this week to avoid sovereign default.
Those present were taken aback by Mr Rehn’s ferocity, and Mr Venizelos backed down. Now, Mr Rehn has slapped down the German finance ministry, which suggested on Monday that it was putting together a plan B to rescue Greece if its parliament failed to pass the austerity measures in a vote on Wednesday.
“To those who speculate about other options, let me say this clearly: there is no plan B,” Mr Rehn said on Tuesday. “The European Union continues to be ready to support Greece. But Europe can only help Greece if Greece helps itself.”
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