Greece is working on an improved proposal in an attempt to reach an agreement with international creditors. That said, the Greek Minister Alekos Flabouraris Saturday against the Greek TV station Mega, without making clear exactly what amendments Athens thinks exactly.
Top leaders
Monday finds in Brussels a slotted top place of Government of the euro countries. The meeting was Friday by Donald Tusk, President of the European Council, described as a last chance for the Greeks to choose a chord or a bankruptcy. “We’re not going there with the old proposal,” Flabouraris said. “We will try to complete our proposal so that we come closer to a solution.”
Greece is negotiating for weeks other European countries, but fails to reach an agreement on further reforms in exchange for further financial support. Athens refuses to accept the demands of the eurozone countries for a reduction in pensions and an increase in certain taxes.
Support for banks
The pressure to reach a compromise is increasing, however, as the Greek banks afloat taken money from the European Central Bank (ECB). Due to the economic uncertainty, the Greeks have in recent days unusual money taken from their bank accounts. Last Friday, the ECB awarded € 1.8 billion in additional emergency support to Greek banks, to prevent them from coming Monday in acute financial distress.
Flabouraris said to trust that the ECB will continue to support Greek banks. The collapse of the Greek banking sector would care for him as a domino effect whereby banks in other vulnerable countries would falter.
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