History Article
Close
This article was published June 20, 2015 at 21:05.
The last change is the 20 June 2015 at 21:40.
Greece could obtain from the Commission an extension of the EU aid program until at least in September, thanks to the transfer of EUR 6 billion by the end salvastati ESM to Greek speakers. In return, Athens would commit itself to adhere to the reform proposals made by the EU Commission. It is these latter cases, of course be confirmed, making their way in a thousand uncertainties within hours of the emergency meeting convened on Monday evening between the heads of state and government of the ‘Eurozone.
In the evening new stock of the situation, on the phone, between the European Commission President Jean Claude Juncker and the Greek Prime Minister Alexis Tsipras, has just returned from Russia. A phone that is part of the attempt at mediation that President Juncker has been working for weeks to try to get all’Eurosummit with a compromise on the table.
What can happen? Without an agreement to replace or make effective the extension until the end of the month of the second bailout plan (with transfers of funds into the coffers Hellenic 7.2 billion euro) it would approach the inexorable time of default greek. In all likelihood, in fact, no aid Athens will not repay the IMF 1.6 billion euro maturing on June 30.
It is a race against time because the bank run last week (at least 4 billion Euros have been withdrawn by the Greeks in the fear of an exit from the euro area) did almost finish patience of the ECB, which may not result in additional emergency liquidity (Ela) in case of non-agreement.
“We – said Undersecretary greek Alekos Flabouraris – Monday will try to present our new proposals so that we can bring us closer to a solution. Are among those who think that we are heading towards a solution, “he added Flabouraris, which is very close to Tsipras. However, according to Minister of State Nikos Pappas (similar role to the Secretary to the Prime Minister, ed), Greece will not accept cuts in pensions.
Meanwhile, according to the Greek Minister of Finance, Yanis Varoufakis, Chancellor Germany’s Angela Merkel “is faced with a decisive choice Monday” between “an honorable agreement with a government that rejected the bailout program and aspires to a negotiated solution,” or “give in to the sirens of his government that encourage us to throw out aboard the only greek government that is faithful to its principles and that can bring the greek people on the path of reform. ” This reasoning Varoufakis in a comment on the German newspaper Allgemeine Zeitung Franfurter. Greece would be ready to compromise if Merkel (since the summit on the role of technical, including German Finance Minister Schaeuble, would be subject to political decisions) will come “significant signs”.
A place another bit ‘of salt on the wounds, however, he thought Ewald Nowotny, a member of the Governing Council of the ECB, interviewed by the Austrian newspaper, Der Kurier. The possible exit of Greece from the euro, the Grexit, according Nowotny would cost less today than two years ago. “Two years ago there was still a serious danger that the collapse of Greece would have had an impact on other southern European countries. But today is different, “said the central banker. Although more than the immediate financial costs must consider carefully what might be the consequences of an exit from the currency of Athens geopolitical (Russia is watching and the nervousness of the United States is evident) as well as the credibility, as repeatedly ECB President, Mario Draghi, has supported the irreversibility of the euro.
© ALL RIGHTS RESERVED
Permalink
No comments:
Post a Comment