That’s finance minister and chairman of the Eurogroup Jeroen Dijsselbloem let you know.
Friday earlier in the evening it was announced that the parties to the talks in Brussels had agreed on a draft agreement. Nineteen members of the Eurogroup had to agree still with them, which ultimately happened so.
Friday closed deal is an “in principle” agreement. Athens must by Monday submit a list of reform measures which Greek government is going to take.
The experts of the lenders will then evaluate that list, as did Commissioner Valdis Dombrovskis known. If the list is approved, the countries that require parliamentary approval for renewal, start procedure That also applies to Germany and the Netherlands
[[slideshow: New round of Greece.]].
Budget deficit
The Greek Minister of Finance, Yanis Varoufakis, says in a comment that Greece based on the Friday agreements may release the target for the budget surplus for this year. This is not confirmed by the other parties involved in the consultation process.
The euro countries and the IMF had Greece instructed the so-called primary surplus in their budget (not counting interest) to make this year’s increase to 3 percent and to let in 2016 to grow to 4.5 percent.
According to the Greece is the ultimate goal, a reduction of the Greek debt to a sustainable level, although achieved a surplus of 1.5 percent and thus Athens wanted to get rid of that objective. According Varoufakis Greece since the Friday Agreement concluded successfully.
Varoufakis called the agreement reached a “small step in a new direction.” The extension provides time “to build a new relationship with Europe and the IMF”.
Further progress
The German finance minister, Wolfgang Schäuble, thinks that the agreement with Greece a basis for further progress. That left Schäuble know after the meeting in Brussels.
According to the Minister with the agreement of Friday put an important step. Eurogroup now has the clarity that was desired, said Schäuble.
Difficulties
Without extension of the support program would quickly Greece have run into financial difficulties. Even with the extension of four months the Greeks are not yet out of danger.
Extension of the support program, Greece will especially more time. The current program runs from February 28 to midnight. Athens can use the extra time given to the extension to the euro countries agreed on further support.
The Greek Finance Minister Yanis Varoufakis spoke for Friday’s meeting (yet) the expectation that consultations would lead to a solution. He trusted that the other would meet eighteen euro countries Greece
Video:. Room for optimism in consultation “
‘Room for optimism in consultation
Extension
Greece Thursday filed a request for an extension of six months. Greeks strike thus a very different tone than earlier this month.
When the newly elected Prime Minister Alexis Tsipras was speaking of a bridging loan and renegotiating the strict conditions set by the EU and the International Monetary set Fund.
In the current proposal Greece promises to respect its financial obligations to creditors and not to make decisions that will undermine agreed fiscal targets.
Germany
Despite the milder tone of the Greeks, the German Finance Ministry rejected the request on Thursday quickly, because the letter “no thorough and substantial solution” would provide. The proposal would be inconsistent with the agreed terms of the Eurogroup.
On Friday, it became clear that Germany still wanted to talk about the Greek plan. The government sees the Greek request for an extension as a basis for further negotiations. ” It’s not about one country but to Europe, ‘said German Finance Minister Wolfgang Schaeuble Friday in Brussels. ” We need to trust each other. ”
Appointments
Thursday, there were too many unknowns in the letter of the Greeks, the Germans believed. The German government wants Athens to commit itself to the agreements made earlier and which also fulfills them.
State Secretary of Finance Eric Wiebe said earlier on Friday that Greece fulfilled all conditions required from 2012, because the Netherlands would not otherwise agree. The Secretary of State represents the Netherlands, since Finance Minister Jeroen Dijsselbloem chairing the meeting.
Emergency Loans
In 2010, the eurozone countries and the IMF agreed that Greece would receive an emergency loan of 110 billion euros. In 2012 it was again promised an aid package of 130 billion euros.
But in order to qualify for any payout, Greece had to be committed to austerity. The troika of the European Commission, the IMF and the European Central Bank to keep compliance with such agreements closely
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