This prevailing skepticism that goes beyond the simple circle of economists, should dissipate in the negotiations on the modalities of the aid plan that will be completed just after the agreement on Monday in Brussels.
The largest reserves come, as expected, Athens. The agreement reached in extremis on Monday the country imposes new austerity measures (VAT increase, cuts in pensions, etc.) And practically a setting under economic guardianship country.
Hardly had the ink dried on the signature, when the Greek prime minister, Alexis Tsipras, described the treaty as” a text in which I do not think, “despite having avoided your country disorderly exit from the euro zone.
“I said I disagreed with many elements of the text,” said Wednesday the prime minister pasaado to its parliament.
The Greek Finance Minister Euclide Tsakalotos, spoke in the same vein to lawmakers: “Not if we made the right decision.” The road seems long until authorities “take ownership” of the reform plan, as you want the managing director of International Monetary Fund (IMF), Christine Lagarde.
it is not a secret that Berlin first creditor of Greece, hit the brakes before signing the agreement, putting on the table the scenario of a “Grexit” (Greek exit from the euro) over five years.
German Chancellor Angela Merkel on Friday defended the text before the lower house of the German parliament, the Bundestag, considering it was the only alternative “chaos”, but their conditions are “hard for the people of Greece”, while admitting no “ignore” that there are major doubts.
His finance minister, Wolfgang Schäuble, had gone beyond the Thursday mentioning again the hypothesis of a “Grexit” temporary. “It can not we (…), but probably the best solution,” “he said. The disparity of approaches with Chancellor hinted at a possibility of alienation from Schäuble, what has officially been rejected so far.” Many they say, including Greece itself, “concluded the minister, and casting doubt on the relevance of another bailout for the country after the 2010 and 2012
WARNING IMF.
Linked to aid schemes, the IMF took the nails and threatened to leave the Europeans to fend each other if not reduce Greece’s debt , considered “completely unsustainable”
Asked about the plan’s viability without a cut debt, Christine Lagarde was direct “The answer is quite categorical:.. no “he said. A senior IMF official on request of anonymity estimated the agreement with Greece is not” really concrete “and leaves” many questions “on hold.
Europeans seem to join, one after the other, the demands of the IMF on the debt, but doubts the Fund are not limited to this. According to the IMF, the budgetary targets allocated to Greece that boasts the agreement signed Monday, are practically out of reach.
Supposedly Athens should unlock one-and mantener- primary surplus (not debt) equivalent to 3.5% of gross domestic product. “Few countries have succeeded. The cancellation of crucial reforms in the public sector that is already under way (…) raises doubts about the ability of Greece to achieve this goal,” the Fund estimated in a report released Tuesday. Another Washington institution that brings together the major banks of the world, the Institute of International Finance (IIF, for its acronym in English) estimated that the agreement again make the same mistake of fiscal consolidation prevail over economic recovery Greek. “The program should pay more attention to measures to support growth and are not intended only to achieve a primary surplus at any price,” he writes this organization, which was linked to the restructuring of the Greek debt in 2012.
repair damage.
Reset the circulation of money is urgent. Capital controls Greece has already cost 3,000 million euros outside the tourism sector, the newspaper Kathimerini’s center.
Another test will be to implement from today of the VAT increase, a controversial measure voted by Parliament, in a country where tax fraud is common.
But not only depends definitively banish the specter Athens the “Grexit” but also from creditors.
Schäuble, continues to defend his proposal to temporarily exclude Greece from the euro. A precondition, he said, to relieve the huge Greek debt. The IMF and the ECB, supported as countries like France, consider that the Greek debt relief, the main claim of Syriza in the whole process must be planned within the new plan of aid to Greece without excluding the euro. Greece debt bailout, eurozone, measures, Alexis Tsipras
Greek banks reopen today
The Greek banks reopen their doors today with some minor relief to the limits on withdrawals, but bans international transfers and capital controls remain in effect, according to a government decree published Saturday. The decision follows announcements by the European Central Bank recently said it will release emergency funds that the Greek banking sector urgently needs to stay afloat, after Athens agreed a series of reforms needed to negotiate a new rescue. The limit of 60 euros per day to withdrawals that was established when the banks closed on June 29 will be adjusted to allow a limit of 420 euros per week. [REUTERS]
In contrast for different reasons
Wolfgang Schäuble
German Finance Minister
interview with the German weekly Der Spiegel, admitted that there are “differences” with Chancellor Angela Merkel on management of the Greek crisis. “We work together to find solutions. Everyone has a role. Angela Merkel is chancellor, I am Minister of Finance”, Schäuble, who did not rule out the possibility of submitting his resignation he said.
Yanis Varoufakis
former Minister Greek Finance
After resigning from the post of minister Finance in early July, has now become the spokesman for the rebels. Varoufakis said Saturday the BBC that the new bailout plan for Greece, which is not yet finished, was “already a failure.” Your opinion is followed by many in the Syriza and enjoy popularity.
Christine Lagarde
Executive Director IMF
In front of one of the creditor institutions that form the “troika”, Lagarde has been strongly in favor of an easing of the Greek debt, aspect not covered by the bailout program recently agreed between the parties. Based on recent reports of the economists of the Fund, Lagarde said it is “completely unsustainable”.
The government formed Tsipras cohesion
The Greek prime minister, Alexis Tsipras, opted for a remodeling of limited government, which has been devoted to the swearing in of new ministers and excludes dissenting members on the agreement in order to gain stability internal. The changes have focused on replacing the energy minister Panayotis Lafazanis, and the four deputy ministers who voted against the package of measures agreed with creditors in Parliament’s vote on Wednesday. So Lafazanis is replaced by Panos Skurletis, one of the closest collaborators of Tsipras, leaving the portfolio held by Yorgos Work Katrúgalos, who until now led a deputy minister.
Lafazanis’s dismissal was one of the expected changes, it is representative of the platform of the Left, the radical current within Syriza, opposed to the implementation of austerity policies.
In an interview published over the weekend in the newspaper Agora, Lafazanis said that” the left “has lost” its credibility and risk losing his own soul. ” The former minister says that Syriza should not accept and approve the new rescue program and if he persists in this goal, we propose to join another party, but says that, for now, continue to fight in the ranks of his party to defend “the great principles and values and orientation antimemorando (rescue program). “
On the other hand, remodeling includes a deputy belonging to the coalition partner new minister, nationalist Independent Greeks. This is Pavlos Jaikalis a comic actor with no political experience will be the new deputy minister of Social Security.
A gesture has been interpreted as a reward for loyalty Independent Greeks, who despite having expressed reservations about the suitability of the reforms, voted as a bloc in favor of the tentative agreement. This new post is added to the six that has the sector, all deputy ministers under the Defense Ministry in the hands of its leader, Panos Kamenos.
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