ATHENS – Alexis Tsipras moves his pawns ahead of the summit in Brussels on Monday evening, in which you play a good part of the destiny of Athens. Prime Minister greek brought together his government and called a lot of proposals to be presented to international creditors, in the hope that this time they are well accepted and to allow EU, ECB and IMF to unlock 7.2 billion of loans by the end June.
During the round of consultations of the executive Greek Tsipras phoned to Angela Merkel , François Hollande and Jean Claude Juncker to submit proposals “with a view to a mutually beneficial agreement,” as reported international agencies citing an email from left government in Athens, which further details the package of proposals. The greek leaders also hoped that this agreement “will bring a permanent solution and not temporary” the Greek question, without specifying whether the proposals are new. And some signs of optimism, in this sense, comes in the evening. Official sources define the proposals of the Greek government “a good basis” to find a solution. The speaker was Martin Selmayr, chief of staff of the Commission President, Jean-Claude Juncker: “The new proposals to the Greek Juncker (EU), Lagarde (IMF) and the European Central Bank (creditors of Athens, ed) represent a good base to make progress at the summit of the Eurozone tomorrow. ” Then he added in German: “But it must be taken with tongs.”
According to reports from the agency Ana , the Deputy Finance Minister greek, Dimitris Mardas , everything suggests that the agreement will be signed this time. Before the official summit, the same Tsipras will be engaged in meetings with Mario Draghi (ECB), Jeroen Dijsselbloem (Eurogroup), Christine Lagarde (IMF), Donald Tusk (EU Council) and the same Juncker.
Hollande , the Expo of Milan, said that “Greece has sent to the European Commission and also to the institutions, so even the International Monetary Fund, its new proposals”; he did it in a joint press conference with Prime Minister Matthew: Renzi , which said that “the conditions for an agreement there.” For their part, the engineers of Brussels would be to work on the proposals, although as I said it is not clear whether it was already delivered their new material from Athens. At work you put soon other technicians, the governors of the ECB: according to Reuters , the board of European Central Bank will meet on Monday morning to discuss the liquidity of the banking sector greek (the so-called program Ela, who is keeping alive the Greek credit system).
The situation of Greek banks is indeed the limit with growing anxiety as the pre- orders for the withdrawal of deposits for Monday have already reached 1 billion Euros. Last week, investors withdrew more than 4 billion euro from their banks. In Athens, at this time, it is difficult to find ATMs with cash available.
The urgency of the situation is shown by the decision of the ECB to find himself after raising over 84 billion funds Ela only last Friday: initially, the program was revised on a weekly basis but in recent times the frequency of intervention was raised behind the request of the Greek Central Bank. The governor greek, Louka Katseli, quoted by Bloomberg says that there is no immediate risk that banks remain short of money. But the lack of liquidity – he continues – “could become serious” if the current situation to go on. For this Katseli hopes that the negotiation of Athens “common sense will prevail.”
Eurobarometer The problem is the debt
Returning to the hot spots of ‘ agreement, according to leaked, at the European summit, the greek government would automatically cut spending in case of overshooting the threshold of the “zero deficit” and tax measures permanent 2% of GDP, while the interventions would ask creditors for 2.5%. It reported a government source agency Bloomberg 0.5% stating that the missing would be covered by other “administrative measures”. The executive greek would be prepared to further fiscal measures if the agreement with creditors include a haircut.
Among the measures contained in the plan there would be a block of early retirement As of January 1, 2016 and the increase is a tax levy “Solidarity” for people who earn more than 30,000 euro per year and for the companies that have profits above 500,000 €.
The greek government would agree with creditors on the goal of achieving a primary surplus of 1% of GDP. Then insist for three VAT rates (6.5%, 13% and 23%), but to meet the demand of creditors to reduce them to two would increase taxes on some foods and about hotels and bring more products to the band of 23%. To reach an agreement at the last minute and avoid the rupture that could result in the exit of Greece from the euro, Athens would also be ready to keep the controversial property tax, the Enfia, that the executive had pledged to abolish this year.
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