The finance ministers of the euro zone on Wednesday held a review meeting in Brussels to discuss Greece, which wants to end austerity and renegotiate its debt, which reject its creditors.
“The start of the Eurogroup will be very tough,” predicted high European source. The Greek Finance Minister, Yanis “Varoufakis, as (his German counterpart, Wolfgang) Schäuble, will start from very remote locations,” he added. “The problem is we do not know what the strategy is and what is negotiable part. Maybe Germany or Greece, and decided to leave (euro zone), we know nothing,” the source added.
The extraordinary meeting of finance ministers begins this afternoon in Brussels on the eve of a summit of heads of state and government of the European Union (EU) and the next day a G20 meeting in Istanbul where German minister was inflexible and tone up between Berlin and Athens. “We are not negotiating a new program, we have a program” rescue, said Schäuble in reference to the second aid plan 130.000 million euros of which benefits Greece since 2012 and remains a last stretch of 7,200 million.
The EU insists that Greece accept the current conditions agreed under the bailout and ask for an extension of the program, which ends in late February, before studying solutions on how to lighten their huge debt, which represents around 175% of GDP.
The response of the Greek Prime Minister Alexis Tsipras, arrived hours later. Shortly before the Greek Parliament would give a clear endorsement to a confidence vote Tuesday night, Tsipras reiterated that Athens will not ask for help extend the plan.
The alternative plan proposed Athens began seep in recent days. A source from the Greek finance ministry ruled to be “radical” and called it “logical”.
Athens want a “bridge program” is believed to stay afloat until September. Among the reforms already agreed with creditors, aims to meet 70%, while the remaining 30% would be replaced by a series of reforms made to the Organisation for Economic Co-operation and Development (OECD).
On Wednesday, Tsipras and the secretary general of the OECD, Angel Gurria, Athens announced the creation of a reform plan aimed at boosting growth, “not on the basis of what was decided before (…) but based on the popular mandate, “said the premier.
The Eurogroup must make a decision no later than February 16, when the finance ministers of the 19-member bloc meet again , a deadline which should enable several national parliaments give their endorsement, as in Germany or Finland, two countries where the Greek proposals are unwelcome.
“In pure evidence northern countries not look at all affected or concerned about the prospect of a Greek exit from the eurozone, “said one source close to the discussions.
Even the president of the European Commission, Jean-Claude Juncker, begins a jaded with Athens. Juncker, exprimer Luxembourg minister and president of the Eurogroup, could have qualified Tsipras of “freshman medical” who wants to conduct an operation without having the powers entrusted a European source.
On Tuesday, the Commission expressed skepticism about a possible agreement with Greece this week. Eurogroup Chairman, the Dutch Minister Jeroen Dijsselbloem, will realize the situation to heads of state and government at the summit on Thursday.
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