Eurogroup refuses to extend aid plan for Greece – ElTiempo.com

The Ministers of Economy and Finance of the euro zone on Tuesday ruled out another extension of the rescue
Greece, unable to carry out the necessary formalities before the current program expires at midnight, announced the Slovak Finance Minister Peter Kazimir, on Twitter.

The Eurogroup ministers again hold another conference call on Wednesday morning, said Michel Reijns spokesman Eurogroup chairman Jeroen Dijsselbloem through the same network. (See more information. What the Greeks do not want to give)

“The program will be over at midnight,” Kazimir said. “The last deadline for an extension of the Greek program was the weekend. Because parliamentary procedures, there is an inability to extend the program beyond today,” he added.

“The Eurogroup is over. The letter (the Greek Prime Minister Alexis) Tsipras includes three requests. The extension of the program and a reduction (debt) is not possible,” he said for his part the Finnish Minister Alexander Stubb.

Regarding the request of the leader of Syriza that is granted the country a new bailout program, Stubb said that such claims “are always treated through the normal procedures” . In his letter, Tsipras asks its partners a “short” further extension and a new “loan” of two years from the European Stability Mechanism (ESM), a permanent rescue fund for the eurozone, to address the payment of debt, both external and internal.

Greek Prime Minister makes no mention in his letter to a share of the International Monetary Fund (IMF) on a loan of this type. After months of negotiations, the lack of agreement on measures that Athens must apply within the loan conditions have led to the end of the four-month extension granted to
Greece rescue program. (See also: Do ​​you know what is happening with Greece)

This means that Greece lost the chance to access the remaining funds, which would total 16,000 million euros, today explained EU sources. The figure includes only the European part of the last installment outstanding 7,200 million euros in the second bailout to Greece, of which 3,500 million correspond to the IMF, ie only affect 1,800 and 1,900 ECB bailout fund eurozone, according to sources.

To those 3,700 million the ECB and the bailout fund would total was 10,900 million from the reserve eurozone to recapitalize Greek banks and profits from operations with debt bonds this year by the ECB, which represent between 1,400 and 1,800 million euros.

EFE