For example, Greece financially for now – NU.nl

Greece is Friday by the eighteen other euro countries urged now to really work on the negotiations on the approach of its economy.

Therefore, it is necessary for the Greeks to the current emergency program, which expired at the end February with extended four months

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What are the appointments

There are now 7.2 billion euros by the European Commission, the European Central Bank and the International Monetary Fund? reserved for Greece.

That money will be transferred as soon as concrete reforms and austerity measures in Greece, which are demanded in return for the emergency aid approved by the eurozone countries. So far there is no cent of which 7.2 billion went to Athens.

On February 20 reached the nineteen finance ministers of the eurozone, often referred to as Eurogroup, a preliminary agreement on the extension of the support program.

The plans of the Southern European country should informally in late April and approved by the eurozone countries, but it soon became clear that this deadline is not met.

After meeting of the Eurogroup on 24 April, Greece was the other euro countries to hear that the country really needs to develop in order to reform the economy. Meanwhile, an increasing share of loans must be repaid.

Reforms

Sure they held talks, but an agreement is not yet in. The plans that the government in Athens submitted to the lenders are not convincing enough.

Prime Minister Alexis Tsipras was elected in January

with an anti-austerity policies. He refuses to lower pensions and liberalize the labor market. The country wants to include or tackling tax evasion and increase the tax on luxury goods.

In contrast Athens also wants to invest money as provide medical assistance to uninsured unemployed and increase of pensions.

What do the Greeks received so far?

The government in Athens is looking for ways to get the towering debt sustainable. As the Minister of Finance for the current loans with the ECB and the European Commission proposed to put in bonds, the interest is then paid only if the Greek economy grows.

That plan is not approved. Another partial remission of the debt, as in 2012, there is also not.

So far, the euro countries and the IMF agreed in 2010 that Greece would receive an emergency loan of 110 billion euros. In 2012 it was again promised an aid package of 130 billion euros. The euro countries are Greece’s largest lenders, Netherlands lent the country so far 11.9 billion.

For the time being not spoken aloud about a third emergency kit, but the end of the problems for Greece is still in sight as the remaining part of the current program is made.

More longer stories and backgrounds Nuwe Kendrick

By: NU.nl/Edo van der Goot