Eurogroup: “Time is running out,” The ministers in Varoufakis … – BBC

The Greek question

Milan , April 24, 2015 – 13:18

Drafting Economics

     
     
 

” Time is running out, the responsibility is in the hands of the Greeks, an agreement it is in their interest. ” This is the clear message to Greece by the Eurogroup, three months from elections and after two months of inconclusive negotiations. The Eurogroup President, Jeroen Dijsselbloem, after the meeting of the ministers explained to those who asked if it was true the very tough stance against the Minister of Finance greek Yanis Varoufakis that “it was a very critical discussion, we made an agreement two months ago, now believed to be able to make a decision, but instead we are very far and so yes, it was a very critical debate. ” A waster, a gambler, an amateur. So it would have been called the Minister of Finance greek by some of his colleagues to the Eurogroup of Riga, for the way is conducting negotiations with international creditors writes Bloomberg, citing sources familiar with the meeting. What is certain is that the Eurogroup will meet again on May 11 (as expected) to assess the situation. Meanwhile Varoufakis said that Athens has “a liquidity problem because Greece is financing the debt with its resources and instead, by existing agreements, should be refinanced with aid.”

The ECB

At the end of the Eurogroup is also addressed by President of the European Central Bank, Mario Draghi, who explained that Frankfurt will continue to support banks Greek till will lovibili: “The emergency liquidity (Ela) will be given until the banks (Greek ed ) will be solvent – he said – and there will be adequate collateral, but given the current fragility of the situation, the ECB may have to go back and review the haircut “on the side. Draghi has agreed with the assessment of the Eurogroup. “Time is running, the speed is now essential, highlighting the risk that” is destroyed, “a part of the value of the collateral that Greek banks have to provide the ECB to benefit from the funding liquidity emergency.

The negotiation

When the negotiation is stalled. The EU Commissioner for Economic Affairs explained that with Greece ‘we approached on some fronts, on others we are far, we need a global agreement, we are still far, reforms are needed, in these three months have been weak, “and recalled that “there is no alternative if we are to achieve the goal of a stable Greece.” Dijsselbloem was more direct and spoke of “large differences to be bridged,” before we can reach an agreement between Greece and institutions for the next tranche of aid.

April 24, 2015 | 13:18

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