Greece, the Eurogroup agreement: aid extended by four months – The Republic

Greece, the Eurogroup agreement: aid extended by four months – The Republic

Rome – The darkest scenarios were averted. The Eurogroup in Brussels ends with a white smoke. Greece gets unlocking the European loan with an extension of four months, but aid will be tied to measures that will achieve and that, for the first part, will already bring Monday. Institutions (ex Troika, ed.) Will assess whether they are sufficient and only after verification – reads the text of the agreement – there will be the disbursement of the loan.

“The extension of aid is a small step in a new direction,” said Finance Minister greek Yanis Varoufakis. “We are all winners. It ‘a great step forward for Europe,” he said rather our proprietor of Economy, Pier Carlo Padoan. For the director of the IMF Christine Lagarde the text of the agreement “is very deep, dense and says important things for everyone, so it is fully comprehensive.̶ 1; He concluded: “We are delighted that work can now really begin.” And even the French Finance Minister Pierre Moscovici tweeted a good wishes: “We proceed, proceed, proceed.”

In summary, the agreement travels on four points: extension of the aid program for 4 months, successful completion of the evaluation of the measures before the next disbursement of aid, list of reforms and by Monday respect its commitments. In practice Greece has undertaken, once agreed measures, to refrain from unilaterally withdraw or modify them if these will have an impact on the budget.

The greek prime minister, Alexis Tsipras, they said “sure” that the request for an extension of aid would be accepted, despite the objections German, and invited all to sign a “historic political decision.” “Greece – supports Tsipras – has done everything possible to arrive at a common solution and positive, based on the principle of a double respect: that of European rules and that the election results of the member states.” “This is the time of a historic political decision for the future of Europe.”

In the background throughout the day continued the work of diplomacy. The Prime Minister Matteo Renzi has had a telephone conversation with German Chancellor Angela Merkel. Germany has remained firm on their positions, nononstante the progress of Greece. Angela Merkel’s spokesman reiterated: “What in essence is formulated in the letter of Athens is not enough, and on this the German government is united.” To find an agreement Greece and Germany met in the presence of the Director General of the IMF, Christine Lagarde, before the Eurogroup.

The harder was the intervention of the president of the Bundesbank, Jens Weidmann, who was described as “vague” and “quite different depending on the time and the recipient” the Greek letter, also accused by the German newspaper Build to be reached in Brussels in a retouched version by Finance Minister Varoufakis, after what they had agreed Tsipras, the European Commission President Jean-Claude Juncker and Dijsselbloem.

Arguments:

Eurogroup

Italy

Germany

Greece

Starring:

Matteo Renzi

Angela Merkel

Alexis Tsipras