ATHENS Greece’s future is unknown and the word “Grexit” (a combination of “Greece” and “output” in English) resumes throughout Europe. The own governor of the Bank of Greece, Yanis Sturnaras, today joined this theory and said today that the failure of negotiations between the government of Alexis Tsipras and creditors may cause the departure of the eurozone and even the EU .
“Failure in the negotiations would be the beginning of a painful process that initially lead to bankruptcy and eventually out of the eurozone and probably of the European Union,” he said during an appearance Sturnaras in Parliament, where he presented the report on the monetary policy of 2014-2015.
The governor of the Greek central bank held the rapprochement between the Greek government and institutions (European Commission, European Central Bank and IMF international) on the need to revise downwards the primary surplus targets and considered “equally important to clarify the intention of the partners to restructure the debt.”
Leak million
The report of the Bank of Greece stressed that the uncertainty of the last two quarters has had dire consequences for the Greek economy.
It confirms that in the period from October 2014 to April 2015 left the Greek banking system “almost 30,000 million euros”, which largely remained in private hands.
According to the report, an agreement restore confidence between the Greek authorities and creditors, ensure the financial support of partners and the International Monetary Fund and allow the country to apply a more balanced financial policy.
Greece could also take advantage of bond buying program of State, who holds the Central Bank European.
Recommendations
The report concludes with a series of proposals for the development of a policy for growth, which should continue structural reforms, strengthen job creation to address the high unemployment rate, adopting a framework of stable pricing and maintain rigor in public spending.
The report notes that the primary surplus should get “through measures structural measures and not raise taxes “.
Also, ask to emphasize the sustainability of the pension system” by reducing the exceptions to the general rules there, “referring, for example, early retirement.
The governor of the Bank of Greece found that with the support of the partners can accelerate the process by which the country can re-finance itself on the markets and said the new program must include the promise that the partners made in November 2012, contained in the second bailout, to restructure the debt.
Meeting in Paris
Meanwhile The Greek Finance Minister Yanis Varufakis, makes today a visit to Paris, where he will be received by the secretary general of the OECD, Angel Gurria, at a critical stage of negotiation with creditors, which puts pressure on Athens to do more concessions.
There are no plans a public hearing nor the Greek minister and the secretary general of the organization at the end of the interview, although the OECD has plans to issue a statement to account for their exchanges.
The Ministry of Finance does not even want to confirm a meeting of its owner, Michel Sapin, with Varufakis.
The Germans, in favor of “Grexit”
The majority of Germans is in favor of a Greek exit from the euro zone at the continuing crisis in the country and the threat of falling into insolvency, according to a survey released today by the opinion poll institute You- Gov.
The 58% believe that Greece should abandon the euro and only 28% is pronounced in the opposite direction. The proportion of those in favor of leaving the euro the Hellenic country is slightly higher than that reported in the previous survey of the institute, corresponding to May, because then he was in favor to 53% against 30% in the opposite direction.
In March had reached a record of pro-bye Greece, with 59%, versus 23% of his critics.
The opinion of those who believe that Greece actually end up leaving the euro zone is also majority: 49% see it as “likely”, while in the opposite direction pronounced 41%. In the survey participated 1,286 people, which was asked between 12 and 16 June.
From the German government insists that working for Greece to remain part of the euro and Chancellor own Angela Merkel has repeatedly spoken in this direction, although clarifying that this depends largely on Athens.
Agencies EFE and AFP .
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