Why does Andrew Freris say Greece is not the problem?

In an interview with CNBC-TV18, Andrew Freris of BNP Paribas Wealth Management talks about the latest events emanating from Europe and what the global outlook looks like hereon.

Below is a verbatim transcript of his interview. Watch the accompanying videos for more. Q: What is your assessment of the situation in Greece currently? What kind of an impact from hereon would it have on emerging markets like India?
A: There is zero news coming out of Greece to the extent that the Greeks were asked to bring in a new slate of measures in order for them to be given USD 8 billion which is necessary for them to top their fiscal hold till the end of October.
The European Union, the ECB and the IMF are going to meet in Luxembourg where there will be a ministers meeting and in all probability they will be given the USD 8 billion and that will only hold for a month-and-half. What is much more important but is unrelated to Greece is the fact that their acceleration in the process of passing the European monetary stabilization program which the Germans have already accepted and they are moving forward so in Greece effectively there is no news. Q: Even if the money is given to Greece, will that improvement in markets be something that will be sustainable? Ultimately, the EFSF is sought to be leveraged and there are a lot of voices which believe that leverage will require parliamentary consent of 17 Parliaments. Do you think giving the money and perhaps temporary stability that will be attained will be just temporary?
A: The European Union has mishandled the whole situation for a few years now. They are now trying frantically to retrace their steps and produce a short-term remedy for the fiscal aliments of Greece coupled with a longer-term. In other words they will keep Greece hanging on till there is strong enough consensus for a substantial more than USD 0.5 trillion of euro