Greece and Europe are an agreement and conjure the risk of ‘Grexit’, but the new government Tsipras already receives the first hard lesson from the EU: its commitments with partners are respected, and then the extension of four months of aid Athens will come only after his reforms agreed with the former Troika, respected the terms of the program, including Memorandum even if it is never explicitly mentioned.
After a difficult negotiation, which has also had to make good the deficit of trust between Greece and the other 18 partners, the leeway that Athens obtained is minimal: may revise its primary surplus for 2015, which institutions will evaluate according to the cycle, resulting in a space budget to launch its measures. But even those will have to be taken in accordance with EU, ECB and IMF.
At the end of the Eurogroup the faces of the characters are tested and caution is a must for everyone. The minister Pier Carlo Padoan speaks of “step forward for the entire EU,” a “victory for all”, although “we have talked about content.” Content will begin to speak Monday, when the Government Tsipras will present a first list of reforms that the former Troika assess.
They will be very similar or equivalent to those that asked the Memorandum, because otherwise the fifth ‘review’, or periodic evaluation before the disbursement of the tranche of aid, you may enter. “Greece will not receive additional payments until the current program will not be successfully completed,” said German Finance Minister Wolfgang Schaeuble. Tuesday the former Troika will make its report to the Eurogroup that, over the phone, will consult and decide whether the measures are sufficient to unlock aid. As was the case with previous governments. A more complete list of measures should arrive by the end of April.
The control on reforms is total: “Greece agrees to refrain from withdrawing any measure or unilateral changes of policies and structural reforms that may have a negative impact on the budgetary targets, shooting or stability, as assessed by the institutions, “reads the text of the agreement. Not the Memorandum, but they do very well: “We extend loans is that the conditions,” said the president of the Eurogroup Jeroen Dijsselbloem.
But the greek Yanis Varoufakis not see it that way: “Do not we signed any Memorandum, is the beginning of a phase without this, we will be co-authors of our list of reforms, no longer follow a script given to us by external agencies, you have to have really short-sighted to think that we signed the old agreement ‘ , defends himself before the press at the end of the meeting. Commissioner for Economic Affairs Pierre Moscovici tries to give an interpretation: “It is a balanced agreement that allows both the Greek authorities to implement the changes they want and at the same time that the commitments are respected.” Next to the work of the Eurogroup, there was one of the leaders. Opening, with request for commitment, had arrived from German Chancellor Angela Merkel as he remembered the German position has always been “to strive so that Greece remains in the euro.”
The same position expressed by the President French Francois Hollande. From Rome also the premier Italian Matteo Renzi was hoping for an agreement. “Padoan we needed in Brussels – said at the end of an important CDM – because Italy is trying to reach an agreement, a point of agreement to do all along: the principle reforms in exchange for time is right, Greece must make reforms and it is vital that the commitments signed are respected. ”
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