Share If there is broad support in Greece shows of course more credibility
The Greek government submitted yesterday its proposals to Eurogroup chairman Jeroen Dijsselbloem. In exchange for include higher taxes and pension reforms Greece has about 53 billion euros to ask loans over three years. The Greek parliament is Friday asked to agree to the measures taken immediately in order to convince the other euro countries Greece wants to get such an agreement.
Support of the Greek Parliament for the austerity and reform proposals that the Greek Government has submitted to the creditors’ certainly helps. ” That said Dijsselbloem Friday shortly before the start of the Cabinet. “If there is broad support for Greece which naturally gives more credibility,” said the Eurogroup chairman. Asked whether there is hope again, he did not respond. However, he said that possibly Saturday, as the finance minister of the euro countries meet, taken an “important decision” on Greece.
The EU, European Central Bank and the International Monetary Fund (IMF) review the plans of the Greeks and probably still come later Friday with an opinion on the Greek plans. According Dijsselbloem Athens has a wide range of text ‘sent, but the’ quality of it still has to be really looked good. ” European stock markets this morning responded already positively by opening substantially in positive territory.
Optimism
The Greek Interior Minister Nikos Voutsis said he was optimistic about the chances of a” good deal. ” “We will discuss the proposals and I expect that it will go well,” he said before a meeting with the ministers of SYRIZA.
The French Minister of Economic Affairs Emmanuel Macron responded reasonably optimistic. According to him, progress has been made in recent days. French President Hollande speaks of credible proposals.
The Greeks still many proposals already in the plan were those in the referendum last Sunday were shot by the Greek population. Thus, the retirement age would already be increased in 2022 to 67 years and the government promises to cancel the special low VAT rates for islands.
normalize Bank Traffic
The Greek government expects Monday to take measures that will normalize the banking traffic in Greece gradually. That said, the Greek Deputy Finance Minister Dimitris Mardas Friday on Greek television.
The Greek banks are already almost closed for two weeks because they threatened to go under the great uncertainty about the economic future of Greece. Greeks took massive empty their accounts, while the European Central Bank decided emergency assistance to banks may be given not to expand further.
The recent developments
An overview of developments around Greece in recent weeks:
• Thursday June 4:
Greece receives approval from the IMF repayments totaling 1.5 billion euros to be made in June, join and to postpone until the end of the month.
• Friday June 5:
Greek Prime Minister Alexis Tsipras believes that international creditors should get their proposals for a deal on Greek debt problems of the table because it “unrealistic and absurd ‘
. • Sunday June 14:
Talks between Greece and its creditors are broken down without result
• Thursday, June 18:.
The IMF stressed that the deadline for the Greeks remain on 30 June. Greeks go through all the turmoil notwithstanding their bank accounts empty
• Sunday, June 21:.
Tsipras lays down a proposal by the leaders of the European Union, which he describes as the ‘final solution’
• Monday June 22:.
Finance Ministers of the eurozone and later heads of state and government of the euro countries are at a special summit meeting to to discuss the Greek issue. Although the summit ahead as ‘decisive’ was labeled is not reached agreement again
• Thursday, June 25:.
Again a euro summit ends without agreement. For lenders seem VAT plans and pension reform, the main stumbling blocks. It was decided to further discuss the following Saturday
• Saturday, June 27:.
In the night from Friday to Saturday Tsipras surprised with the announcement of a referendum on the proposals by the lenders. The euro countries therefore refuse to vote on Saturday afternoon with the extension of the emergency program, which therefore expires on Tuesday, June 30
• Sunday, June 28:.
The ECB raises emergency support for Greek banks do not, so that should close the doors. Greeks may get only 60 euro per day from ATMs
• Tuesday, June 30:.
Greece asks in vain for a new financial aid package for the next two years. The repayment obligation to the IMF is not satisfied
• Sunday July 5:.
Greek population rejects the proposals of the creditors in the referendum by a large majority off.
• Monday July 6:
Finance Minister Yanis Varoufakis resigns, in his own words to the negotiations to give more chance of success
Greece is no new proposals for meetings with ministers and heads of government in Brussels. After alerting EU Minister Tusk and committee chairman Juncker that the time is up. Greece given until Thursday to come up with concrete proposals. Over the weekend the euro finance ministers and the heads of government of all 28 EU countries will decide whether the country can still remain in the euro
• Thursday, July 9:.
Greece needs new request for assistance. In exchange for the government would be prepared approximately 53 billion euros in loans to a series of economic reforms. The commitments thereby hardly seem to deviate from the requirements that have been rejected in the Greek referendum.
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