The duel that stage three weeks ago the new government in Athens and the European Union (EU) has reached its final phase and could be concluded as a Greek tragedy in which the Greek government could declare bankrupt the country, an eventuality that would as a result a strong and undesirable financial imbalance in other euro area countries. However, yesterday circulated rumors that Greece finally ask today a credit extension for six months.
Behind the hypothesis of the possible bankruptcy are the apparently irreconcilable positions taken -in his last meetings-by Alexis Tsipras Greek premier and finance minister, Yanis Varoufakis, and its counterpart, the representatives of the EU. “Absurd and unacceptable”, defined the Greek delegation’s proposal to extend Eurogroup for six months plus the current aid program, but maintaining the austerity measures imposed on Greece. Tsipras said he was in no hurry and do not give in to “blackmail ” of technocrats.
However, last night seemed to finally ask the Greek government would accept today an extension for up to six months of its credit agreement with the euro zone, under conditions that are still being negotiated. The source stressed that concerned the loan agreement, not the program of international rescue Athens.
However, German Finance Minister Wolfgang Schaeuble dismissed the alleged plan to tell the ZDF station: “This is not about extending a loan program but whether this rescue program will be completely fulfilled or not.”
The initial response of Athens was not surprising. One of the key points of the electoral program Tsipras and his party Syrisa is the total rejection of measures are seen the terrible negative impact they have had on the national economy.
Politically, the answer is acceptable, but the prob lem is that if Athens does not change its position, the road to bankruptcy seems inevitable given that, without an agreement, the Eurogroup not release the last loan already agreed and could also suspend other incidental and which future loans to Greece would mean the total insolvency.
According to analyst Federico Fubini, “without such financial assistance is unclear how Tsipras will pay the March salaries of public employees” who along with other Greeks, thanks to its policy against austerity, keep your game with a consensus 45%.
But that’s not all. Christine Lagarde, head of the International Monetary Fund (IMF) has made it known that without an agreement the agency would suspend its funding to Greece and could not renew saves money for the bottom States.
Given this stark reality was estimated that Tsipras and Varoufakis would reverse to try an agreement wi th the Eurogroup, which, however, is very reluctant to accept the Greek claims.
“In this situation it is necessary to be logical and not ideological. About wording have already discussed a lot and there are no alternatives to the request for the extension of the aid program for Greece, “said Commissioner for Monetary Affairs, Pierre Moscovici, considered one of the most moderate of the Eurogroup. With information from agencies
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