16-02-15 19:18 pm – Source: Reuters
Greeks waving flags of the Euro countries during a pro-government demonstration in Athens today © AFP
The consultation of the finance ministers of the euro countries Greece has ended. Earlier in the evening Greece already said nothing to see in the end prepared statement. There were words like ‘current aid programs’ and ‘provision’ horror words for Athens. The new Greek government wants precisely on the part of Europe imposed austerity policies in the current lending program
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Prior to the meeting, called eurogroup, expectations were already low. In particular, the German Finance Minister Wolfgang Schaeuble was very skeptical about the chances of an agreement on the Greek debt issue.
The current program expires at the end of the month. But it is already clear that Greece without financial support will come into trouble. So there was a sought solution. Most euro countries sent to the fulfillment of previous agreements, but Athens wants a new contract
. Extension Support Programme
Eurogroup President Jeroen Dijsselbloem made tonight after the consultation is clear that the euro group remains committed to an extension of the current support program for Greece. According Dijsselbloem can within the current program changes take place that the Greeks want.
But Greece would not turn back on his own earlier reforms and spending cuts without the consent of the lenders. “We are willing to discuss further with the Greeks. It is now up to them to decide what they want.
The new Greek government won the last elections with the promise to put an end to it partly because Europe imposed austerity policies. Athens wants to get rid of the current program and therefore has always rejected an extension
. Override Agreement
The current program runs expire at the end of the month and so is urgent. Especially since an extension has yet to be submitted to a number of parliaments. Dijsselbloem had “in about a week’s time, no more.”
Greece is in financial difficulties without (additional) support. It is up to the Greeks to decide whether they want an extension. According Dijsselbloem is a positive outcome is still possible if the Greeks ask for the extension. According to the president, there is plenty of “flexibility” and an extension of the current program ‘feasible’.
But Athens always speaks about an interim agreement and would totally do not talk about the current program. According Dijsselbloem seems the desire of Athens for a bridge agreement “very strong” on an extension. “An extension will have my preference. It offers us and the Greeks more time to talk about what should come next. It just takes more time
. Plummeting euro
The value of the euro surged slicing, immediately after the talks in Brussels on a solution to the Greek debt issue were unsuccessful.
The currency fell to $ 1.1320 and climbed again something to 1.1333 at 19.50. At the close of the European bourses today the exchange rate stood still at $ 1.1392
. (Edited by: editorial)
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