Economy
Greece this morning formally applied for an extension of the current emergency loan. Tomorrow the Eurogroup will discuss the proposal. Germany has already announced no ‘substantial solution’ can be seen in the proposal.
This morning, reported Minister of Finance and Chairman of the Eurogroup Dijsselbloem that Greece had submitted a proposal for extension of the current emergency loan.
At first it was not clear what the proposal meant, just that it was an extension of the current emergency loan for six months. The Financial Times has the letter been put online.
The Greek government wrote in the letter six-month extension to want to use that time to “all together, all space use that are in the current agreements “to come to adapt those agreements” on the basis of proposals from one side to the Greek Government, on the other hand, the institutions [EU, ECB and IMF]. “The Greeks say further far no unilateral action to take more “budget agreements, economic recovery and financial stability” could undermine.
Why change course, but no u-turn
According to NRC correspondent Stephane Alonso means the request of the Greeks called a change of course, but that is not unconditional.
“That the Greeks seek renewal anyway, is a twist. But in the letter, the Greeks or for that use six months, for negotiations on this current program and how about Greece is judged afterwards. That is quite a double message. For the Germans, the proposal of the Greeks probably too loose. “
Germany showed earlier today, through a spokesman of the Ministry of Finance know anything seen in the proposal of the Greeks. It would not match the agreed criteria in the euro group:
“The letter from Athens offers no solid and substantial solution.”
Slovakia also negative
Also Slovakia has already rejected the proposal by the Greeks, reports the Financial Times.
“Beyond this, we are not ready to go. It would be impossible for us to explain to our citizens that the
The other euro countries have until now always proposed to extend the current program, but or with any conditions attached to that need support. There had been previous Greek government also committed itself to. After six months, which could then be discussed a new support program with other conditions.
However, the new Greek government is against the imposed reforms. According to Prime Minister Tsipras, the Greek economy broken cut by the conditions attached to the emergency support.
Tomorrow eurogroup
Germany and Slovakia walk with their judgment ahead of the meeting of the Eurogroup that is scheduled for tomorrow. That remains to be seen whether the proposal is adopted.
FA:
“The Germans make the work of Dijsselbloem this any easier. It had been more sympathetic if they had kept it quiet until tomorrow. It’s hard to say what tomorrow will come now. “
The European Commission had previously know yet” positive “about the step of Greece. A spokesman expressed the hope that the parties to a “reasonable compromise” may come.
ultimatum until tomorrow
Greece had last week to send out to all marked on the extension of the emergency loan . The request of the Greeks comes a day ultimatum expires for the euro group.
Earlier, the government wanted the new prime minister Tsipras an end to the current program and a new bridge loan of four months. In that period the country would negotiate with creditors on a new system for paying back the huge debt. The far-reaching reforms to be implemented by the EU of the country, would be postponed during that period. That proposal, however, could not count on support from the Eurogroup
Read today nrc.nl: 5 minutes catching up – why it is a crucial day for Greece
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