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This article was published June 27, 2015 at 23:55.
The last change is the 28 June 2015 at 00:11.
BRUSSELS – Greece is on the brink of exit from the euro zone. Met for the fifth time in ten days, the Eurogroup discussed yesterday here in Brussels emergency measures after the Greek crisis has taken a dramatic turn. The unexpected decision to Athens to announce Friday night a referendum in which ask the Greeks to assess recent measures proposed by the creditors has in fact prompted the partners to reject an extension of the memorandum economic expiring later this month.
Finance ministers of the euro area have noted “with regret” the decision “unilateral” Tsipras government to hold a referendum on a plan “still under discussion,” he said at a press conference the president of the Eurogroup Jeroen Dijsselbloem. Considering that the organization of a popular vote Greece has abandoned negotiations, the partners refused the Greek request to extend by one month the current memorandum, which expires Tuesday.
For weeks on the table there was an exchange between new economic reforms and new financial aid, combined with an extension of the current program in order to support the country after the expiry of the day after tomorrow. Unless solutions last second, Greece, in very serious financial crisis, will be from Wednesday without a parachute. You will not receive 7.2 billion aid under negotiation; and can not repay the loan by € 1.6 billion from the IMF.
Knowing what the partners of the euro area are concerned about the risk of political instability, Prime Minister Alexis Tsipras wanted groped with the move referendum to wrest new concessions in negotiations. Without success. Around the corner is the failure, if not exit from the euro zone, in the absence of liquidity, so far from the European Central Bank. According to an estimate Community, in the last hours the Greeks have withdrawn from banks 700 million euro.
The Eurogroup meeting yesterday was very tense. Symbolic that the statement of Finance Ministers has been signed by 18 countries, not by Greece which has refused to sign it. A taste of Grexit? Worse, the Eurogroup met again in the evening, at 18, not 19, to discuss “all necessary actions to ensure the stability of the euro area.” Measures on the table to protect the weaker countries and humanitarian aid in Greece that could be on the brink of a liquidity crisis.
“I want on this occasion to reiterate our strong determination to further strengthen the euro area , which already today is stronger than it was a few years ago – said Dijsselbloem -. We are ready to make full use of all the tools available to (…) The Eurogroup will follow the situation closely and is ready to meet again if necessary, at any time. We are ready to support Greece even after the end of the memorandum. “
Meanwhile, Economy Minister Pier Carlo Padoan said that” it is Europe that is derailing Greece but if anything are the choices of the greek government that are not in my view appropriate to the needs of Greece. ” The minister said he was “comfortable” with regard to “possible tensions on the market for government bonds.” He noted that “the stability of the bottom of the Italian economy has grown” and that “the ECB has all the tools available” to possibly calm tensions.
The tone and words yesterday here in Brussels They were of resentment and even anger. Many European politicians, without explicitly saying so, have made it clear to consider blackmail the Greek choice of a referendum. Dijsselbloem pointed out that at the time of the choice referendum night negotiations were still ongoing. He also wondered what the object of the popular vote for the proposals of the creditors were (are) still informal.
“The Greeks must understand – added Dijsselbloem – that the negotiation process (when it was called the referendum, ed ) was not finished (…). It seems to me that the choice referendum is unfair. “
In response, Finance Minister greek Yanis Varoufakis assured that Athens continues to be” absolutely determined to pursue an agreement. ” The Eurogroup message is that “the door” of the Europeans is “open”, but that it is up to Athens to return to the negotiating table.
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