Constanza Morales
Varoufakis (l.) monitor political negotiations with the Eurogroup and the IMF and Tsakalotos direct the daily work of the group local commissioners.
After three months of failed negotiations and after Friday’s talks between Greece and its international creditors ended on bad terms, the Greek government decided to restructure the negotiating team Rescue and chose to take the Finance Minister Yanis Varoufakis, as head of the group.
The daily coordination efforts will be undertaken by Euclid Tsakalotos, Deputy Foreign Minister, said an official in an email cited by Bloomberg. The role of Varoufakis be limited to monitoring the political negotiations with their counterparts in the eurozone and the International Monetary Fund.
“This move solves the crisis, because it seems that Tsipras is being given to fire Varoufakis but, to some extent, has the same result, “said Michael Michaelides, strategist at Royal Bank of Scotland. This “does not change the problems, but given the interpersonal nature of the Eurogroup and as finance ministers still remain in charge, this is significant,” he said.
“The negotiation of government has wasted precious time and has lost many friends outside Greece, “said George Pagoulatos, professor of European politics and economics from the University of Economics and Business, Athens. “It reorganization urgent need to restructure the negotiations and propose a team that can enjoy greater credibility with partners,” he added.
The announcement prompted local bonds. The yield of the title three years its biggest decline since July to 22.32%. The Athens stock exchange 4.4%, the highest variation in two months.
A Eurogroup meeting held on Friday in Riga, Latvia, ended in insults against the charge of the Greek public finances soared. Varoufakis colleagues accused of wasting time and being a gambler and an amateur.
The German publication Bild reported yesterday that Prime Minister Alexis Tsipras is willing to suspend plans for a minimum wage and make other changes to proposed reforms to release the funds missing from the second bailout.
The premier also be ready to stop the initiative early retirement and to introduce a “luxury tax”. The new list of measures be presented tomorrow at a meeting of the bloc.
imminent Payments
The reorganization comes amid problems the country has had to raise money to pay them this week to its pensioners and workers.
The nation is counting on the deposits of local governments, cities and other moneys for the disbursement of more than EUR 1,500 million (US $ 1,620 million) which should make ends meet after the Eurogroup decides not to give more aid until the bailout terms are met.
This payment of 200 million euros has to make Greece the IMF on May 6 adds.
Require a commitment
The move also came after two surveys revealed during the weekend a continuous decline in support for the confrontational stance of Athens.
An Alco poll showed that 50% of respondents want the government to give in even if the creditors reject the Greek demands, while 36% said the administration should opt for a “break”.
According to a survey of Kappa Research, 71.9% of respondents said that an agreement would be best for the country, while 23.2% said they preferred a confrontation.
” The Greek people is absolutely clear that he wants to stay in the euro, whatever happens, “said Bloomberg Aristidis Hatzis, associate professor of law and economics at the University of Athens professor. . “They have understood that require hard commitments, even austerity”
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