ATHENS. With the agreement on a third bailout, Greece out of a zone of extreme financial turmoil, but comes in a hard phase of cuts deeply dividing the party of Prime Minister Alexis Tsipras.
The Greek finance minister, Euclid Tsakalotos, had an unpublished words on Friday by the Greek government, considering that the new aid plan approved by their counterparts in the euro area offered” many opportunities “to country.
While no Tsipras kept repeating that he did not believe in the agreement signed, the team leader of the Greek negotiators decided to see the glass half full. “The agreement advances to Greece because becomes more stable financial system from now,” said Tsakalotos.
The minister even said that the new cuts budget and the measures required in return for financial aid offered “the opportunity to transform the public sector, fight corruption, tax evasion” and take “many important structural reforms”.
bailout. Greece desperately needed a new loan of 86,000 million euros (95,000 million dollars) for the next three years. State coffers are empty and the country does not have the money to repay loans received since 2010. Athens will return 3,400 million euros to the European Central Bank (ECB) on Thursday.
The agreement” is essential to clear the uncertainty weighing on Greece for six months and to restore confidence, “said Commission Vice President in charge of the euro, Valdis Dombrovskis.
Several national parliaments, including the German Bundestag must now approve the agreement before Greece receives part of the promised loan.
The first tranche of the aid is EUR 26,000 million, with a payment” immediately “of 10,000 million to recapitalize Greek banks, the Eurogroup decided on Friday.
The second” subsection “of 16,000 million euros, will begin with a payment of 13,000 million by August 20, and will be followed by others in autumn (boreal) depending on the implementation of reforms, said the Eurogroup.
The attention of creditors (EU, ECB, ESM and IMF International) will now focus on the implementation of the reform program
The pace is frantic. The liberal daily Kathimerini on Saturday listed about 40 measures fiscal, labor law, competition, social security and pensions, which should enter into force before the end of the year.
With the previous two loans (2010 and 2012),” creditors learned that if they do not depend on the payments “in respect of reforms,” Greek governments do not apply, “wrote Nikos Kontantaras Saturday, columnist for Kathimerini.
According to the press, Tsipras and told them to its European partners that will have to call early elections in the autumn, although it will be difficult to find a date.
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