Wednesday, July 1, 2015

Greece, ready to accept bailout conditions – The Universal


 Greek Prime Minister Alexis Tsipras , wrote to creditors of Athens that Greece could accept a offer rescue filed on June 28 if several conditions were changed, but Germany said that the letter came too late and that the amendments were insufficient.
 


 


 Athens wants credit for 29 billion euros to cover the payment of the country’s debts to expire in the next two years.
 


 


 In the letter, seen by Reuters, Tsipras asked the maintenance of a discount on the value added tax to the Greek islands, the extent of cuts in military spending and the delay in the removal of an income supplement for some retirees more poor.
 


 


 “As notice, our amendments are specific and fully respect the strength and credibility of the overall program design,” wrote the Greek leader.
 


 


 Finance ministers from the euro zone were planning to try the application of Greece in a conference at 1530 GMT, but the initial reaction of the secretaries of state and senior officials was that the letter contained elements difficult to accept.
 


 


 Although the letter is dated July 30, came after the 19 Eurogroup ministers had already concluded a conference Tuesday afternoon, and the expiration of the international rescue of the country at midnight on that day, when Greece defaulted payment the IMF, the euro zone officials said.
 


 


 “The Hellenic Republic is prepared to accept this agreement at expert level subject to amendments, additions or clarifications following as part of an extension of the EFSF (European Financial Stability Facility), which is close to expiring, and the Credit Agreement Financial Stability Mechanism, for which an application was presented today, “Tsipras wrote in the letter, which was first reported by the Financial Times.
 


 


 German Finance Minister Wolfgang Schaeuble said the letter came too late, that offered more clarity and that was not the basis for serious negotiations now.
 


 


 Any negotiations on a new program would have to start from scratch with different conditions, Schaeuble told a news conference in Berlin.
 


 


 Tsipras’s letter contained only a slight reference to labor market reform, which was one of the demands of creditors for the Greek economy more competitive.
 


 


 “The new framework will be enacted in the autumn (boreal) of 2015,” Tsipras said, without saying what measures contain.
 


 


 Athens wants to restore the collective bargaining rights canceled in previous reforms and opposes bailouts to demand to facilitate layoffs in the private sector.
 


 


 Tsipras did agree on the immediate implementation of measures recommended by the Organization for Economic Cooperation and Development (OECD) to facilitate business and business sectors to open closed measures.
 


 


 The letter does not mention privatization, the government of Tsipras stopped when he took office and that remain the subject of discord.
 


 


 tcm
 

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