Greece blows troika “Gambit poker game” – De Morgen

Greece blows troika "Gambit poker game" – De Morgen

“Our country refuses to cooperate with a committee of three parties who are not even recognized by the European Parliament,” Varoufakis confirmed to Dijsselbloem the position which his leftist party SYRIZA was drawn to the election. This also means that Greece would no extension of the second European program that expires at the end of February. “Our first act as government will not actually be asking a program that we reject the extension.”

The troika consists of inspectors from the European Commission, the European Central Bank and the International Monetary Fund recent years, the implementation of the heavy cuts and economic reforms checked in Greece. Which measures the Greeks were imposed as a condition for the grant of EUR 240 billion in soft loans to the euro country is left intact since 2010. Such programs, however, have led to a massacre social and economic resurgence crippled, SYRIZA.

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The end of the troika and the aid program would mean that Greece temporarily can not count on financial support. The lenders, after all, still had about seven billion euros in loans on bag for Athens. In an interview with the newspaper The New York Times had Varoufakis Thursday but already thanks for that envelope. “We want those seven billion not. We want the whole program in a new mold.”

The Greek Treasury, however, remains a concern. As fiscal revenues were disappointing in recent months because many Greeks reportedly no taxes paid more during the campaign. Moreover, the new government has already announced measures that rollback imposed remediation by the troika. Also planned privatizations are canceled. All this on a few months of what Greek analysts “a cursed summer” call, with over 10 billion euros of debt repayments.

Against confirmed that

background Varoufakis Friday that the government and the other euro countries and the European institutions would continue to negotiate “a comprehensive and lasting settlement for the reconstruction of a social economy.” In addition to a waiver of a portion of its debt and a moratorium on interest payments would drive the Greeks less stringent budgetary targets, with a primary budget surplus of 1.5 to 1 percent instead of 4.5 percent as the troika had set.

The march toward Tsipras and Varoufakis runs directly counter to the view of the other euro countries. Dijsselbloem warned the Greeks Friday for unilateral steps of progress in Greece would negate. The rejection of the existing agreements is “not the right way,” said Dijsselbloem.

The German Finance Minister Wolfgang Schaeuble said in Berlin that trust and confidence are prerequisites for European solidarity. “There is about us not discuss about it and let us not put pressure on us.” The magazine Der Spiegel meanwhile reports that Berlin was prepared to provide a new program to 20 billion if the Government Tsipras would accept the troika.

Dijsselbloem repeated in Athens also resisting a Varoufakis advocated by international conference on the remission of part of the colossal debt. “Such a conference already exists and is called the Eurogroup,” the Dutchman as referring to the meeting of the eurozone finance ministers of which he is president.

European Commission President Jean-Claude Juncker, who may Tsipras receives next week in Brussels, and several ministers have indicated that they are willing to talk about a reduction in interest rates or longer terms for repayment of loans. About 2012 there were already made arrangements and there was even talk about the recent elections and with the Greek authorities.