Brussels, March 8 (EFE) .- The Ministers of Economy and Finance of the eurozone will hear tomorrow the Greek owner Yanis Varufakis his plan immediate reforms, with which aims to increase tax collection and help citizens, but which for now will not alleviate the urgent liquidity Athens developments.
Varufakis sent the Eurogroup chairman Jeroen Dijsselbloem, a letter with seven points on measures that will be applied in an accelerated manner, and explained in tomorrow’s meeting.
European sources stressed that this is only a fraction of the measures that Athens must specify to April and adopt institutions, so there will be no decision at the meeting of the nineteen countries that share the euro.
“Institutions will have to analyze all the measures required in full” on the agreement reached in February to determine whether or not negatively impact on the budgetary targets, will economic recovery or financial stability, and ensure they are fully funded.
“So far these discussions have not started”, European sources said.
The possibility of advancement part of the aid Financial Greece to divide it into different sections, has been mentioned by Dijsselbloem himself in an interview, and in theory could be done if Athens extremely accelerate the implementation of reforms.
However, in practical terms and calendar, this option is not considered feasible in the Eurogroup, at least for now, according to sources.
They recalled that before any aid can be disbursed eurozone partners not only require a technical agreement on measures to institutions -the European Commission (EC), the European Central Bank (ECB) and the International Monetary Fund (IMF) -., but usually also the fulfillment of previous actions
Review of measures requires a “huge amount of work”, said the sources, which “often forgotten”.
“We are very far from this. Because the discussions have not yet begun, “and the context of urgent liquidity needs by Athens and the remaining few weeks until late April concern in Brussels, they said.
” The pace should increase ” , the sources said.
In the Eurogroup meeting state bailout of Cyprus will also address, in which case is still locked next disbursement problems with the legislation on evictions.
On the other hand, the Spanish Minister of Economy and Competitiveness, Luis de Guindos, has been invited to exhibit their counterparts reforms carried out in Spain in recent years, with an emphasis on services, because the country is considered “an example for others” who are lagging behind, according to the Ministry of Economy.
Guindos will refer to the Warranty Law Market Unit, licensing and trading hours, among other reforms, and is expected to generate “ideas” or “enrich” internal debates when designing and developing national reform programs that the EC expected in April.
This exhibition is part of a series of thematic debates that the Eurogroup made from 2014, as has been the case of moving the tax burden from labor to other taxes, reform of the labor market and financial sector reforms.
The Eurogroup will also discuss compliance with tax consolidation rules regarding budget plans this year, and a statement that for Spain, “there will be no surprises” will be approved, the sources said.
Sources Ministry of Economy ensure that the declaration of the Eurogroup will make clear that the EC sees now “achievable” the deficit target for this year set at 4.2% of GDP, and suggest that the EC has raised six tenths its growth forecast to 2.3% of GDP.
The next day, the Ministers of Economy and Finance of the whole European Union (EU) evaluated the decision of the EC to give more Time to France to reduce its deficit below 3% of GDP and macroeconomic imbalances in several countries, including Spain will also be addressed.
The EC considers that, despite some improvements in the process of rebalancing the current account balance, the risks associated with high levels of public and private debt and negative net international investment position of Spain deserve “much attention in the context of very high unemployment.” EFE
cae / emm / mrn / tcr
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