BRUSSELS Ministers of Economy and Finance of the Eurozone have decided today to reject the extension of the Greek rescue beyond 30 June and will now meet to prepare the “next steps” to safeguard the financial stability of the euro zone, the Eurogroup chairman Jeroen Dijsselbloem reported.
The Eurogroup issued a statement with this conclusion does not have the approval of the Greek Finance Minister, Yanis Varufakis, and called for “immediately a second meeting to address any consequences “arising from the refusal of Greece to the proposals of its creditors and the announcement of a referendum, to be given by the Greek authorities finished the negotiations. At that meeting and not participate Varufakis.
Not only the program will expire on the 30th, but all funding related to the current rescue, including the transfer of the profits made by the ECB buying Greeks and the national central banks of the eurozone countries bonds.
Now the Eurogroup “to” prepare for whatever it is necessary to ensure that the stability of the eurozone remains in high level “will meet , Dijsselbloem said.
“We were negatively surprised the steps taken last night by the Greek government. After our last Eurogroup said the door remained open and that the institutions were ready to look at the latest proposals from the Greek side and continue the talks, “he said.
These talks continued last night between the three institutions and representatives Greeks, when “they were called and had to leave the meeting,” said Dijsselbloem
“They ended up basically the negotiations” and he added, and soon it became clear that:. Greece decided to respond negatively proposals that had been tabled institutions. It rejected those proposals, “he said.
” The common opinion of the other 18 ministers is that they regret this, lament the fact that the negotiations were broken last night and today was not possible to have more negotiations, “he said Dijsselbloem.
He stressed that the proposals of the institutions used the” maximum flexibility “they could in this process according to the statement last February 20 when it was extended, to take into account the economic situation of Greece and allow Athens to propose alternative ways to bring the country back to a sustainable path prosecutor, economically and financially.
The French finance minister, Michel Sapin, estimated “fate” of Greece is “in the euro area”, but acknowledged that the departure from the country of the single currency can be a “consequence” of the referendum announced for July 5.
“Greece remains in the eurozone, it is your destiny and no country wants a Greek exit from the eurozone, “said Sapin news conference after a Eurogroup in the order of extension of the bailout program in Athens was rejected, which puts the country on the brink of a default with unpredictable consequences.
Sapin not exclude however that outcome to happen as a “consequence” of a referendum.
“The 18 countries clearly said Greece is in the euro, which should remain in the euro Whatever the current difficulties, “the French minister stressed that Greece broke after” unilaterally “negotiations to reach an agreement with its creditors.
“France is available at all times so that in the coming hours, days can resume a dialogue that is necessary for Greece,” he said.
Agencies EFE and AFP .
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