GREECE AND EURO
Milan , May 14, 2015 – 10:12
hours are crucial for Greece which the creditors of the former Troika demanded three billion of euro of public spending cuts. According to reports from the American agency Bloomberg, Economy Minister Yanis Varoufakis said at a meeting in Athens to have reached an agreement on most of the points at issue in the difficult negotiations the same international creditors.
Requests to the ECB
Among the demands of the greek government, however, is the postponement of repayments to the ECB. “In July-August – said Varoufakis – the Ministry of Finance will have to borrow 6.7 billion euro from our partners, to repay in one way or another in the bond program expires Smp.” “Approximately 27 billion euro of these bonds expire and will have to be repaid in the coming months. The repayment of these bonds will be postponed to a distant future. That’s clear. ”
Redraw, not cut
In any case Greece does not point to a “haircut” of the debt, even Varoufakis said, explaining that the level of debt is unsustainable, but Athens must be “redesigned” and not cut.
May 14, 2015 | 10:12
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