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This entry was posted on July 10, 2015 at 11:16.
The last change is the July 10, 2015 at 17:00.
The negotiations between Greece and the European Union is at a turning point although the road remains still long and arduous. Important openings have been shown by European leaders after submission of the proposal of the Greek Prime Minister Alexis Tsipras of economic policy reforms, spending cuts and tax increases totaling 13 billion euro in two years, 7.2% GDP greek. According to a number of the Eurogroup Jeroen Dijsselbloem the proposal submitted by Greece to the European summits respond to the demands of creditors. Positive also the reactions of France and Italy, while Germany remains cautious.
Dijsselbloem judged proposals sent from Athens last night, “comprehensive”, but said that will be evaluated based on their feasibility. The Dutch minister added that now, together with the Commission, the ECB and the IMF “it will do the calculations,” and we’ll see if “it all adds up.” If the three institutions will give the go ahead, the Eurogroup, called Saturday for the 15, will recommend the launch of negotiations on the third floor of aid to Greece, after those of 2010 and 2012 for a total of 240 billion. The third rescue could be between 50 and 70 billion Euros. After yes Eurogroup, the ECB will have plenty of room to expand the roof of liquidity provided to banks in Greece, and probably to transfer part of the profits made from the detention of Greek sovereign bonds (so ‘Athens potra’ pay to the same ECB 3 , 5 billion on July 20).
“One way or another, is a major decision that we must take” at the summit on Saturday, he added the head of the Eurogroup. At about 13 gathered in the conference president of the European Commission, Jean-Claude Juncker, the ECB, Mario Draghi, the director of the IMF, Christine Lagarde, and the same Dijsselbloem. The summit of the four institutions have discussed the reform proposals presented by the greek government and on the request for a program to support the ESM, the bailout fund in the euro.
node debt
Tomorrow the Eurogroup will also discuss debt relief greek. This was announced by European sources. According to the Greek press, the creditors are demanding that Athens approve – as part of “preliminary steps” – a law on the reforms needed to finally convince the good intentions of the government Tsipras.
The rock of Syriza …
Today in the evening the greek Parliament will be called upon to decide on the proposed plan last night by Tsipras. The left wing of Syrizia has already leaked its dissatisfaction through Energy Minister Panayiotis Lafazanis and a harsh note of 5 members of the party. “The proposal does not solve the problems of the country and does not give us a positive outlook,” he said on the sidelines of a meeting of the ruling party led by Prime Minister Alexis Tsipras. Who asked his party to support the plan submitted to the EU in return for new aid to the country. Tsipras count on a majority of 162 seats in Parliament, composed of 149 deputies of SYRIZA and 13 nationalists Anel. In case of major defections, Tsipras would be forced to pass the plan by a vote of the pro-European parties such as New Democracy of former Prime Minister Samaras and the Socialist Party.
… and the rock of the six Parliaments
In case of a positive outcome of the Eurogroup it is, however, to overcome the obstacle of national parliaments. In fact, six countries – Germany, the Netherlands, Austria, Finland, Estonia and Slovenia – the mandate to negotiate a new bailout for Greece must be approved by assembleee. Times are tight then. “Only if the government greek – said the German government spokesman, Steffen Seibert – shows itself ready to make serious reforms, our government will go to the Bundestag to seek a mandate for negotiation.” The German Government therefore confirms its caution and not lean on the outcome of negotiations. According to reports from the agency AFP on the basis of the German parliamentary sources, the German parliament could vote for the first time on July 15 to authorize the government to negotiate. The Bundestag would then vote on the agreement reached on 17.
Hollande “sponsor” of Athens. Padoan: important steps
For François Hollande, “the next few hours will be important.” “Yet nothing is done,” said the French president, who feels it is the Greek proposals “serious” and “credible”. “The Greeks show a determination to remain in the euro zone,” Hollande said, stressing that “the discussions should resume with a will to conclude.” France, together with the United States, has had at this time a crucial role in keeping alive the thread of dialogue after the outcome of the referendum last Sunday had removed parts. Positive also the reactions of the Minister of Economy Pier Carlo Padoan, who speaks of “important progress in these hours towards a solution” to the crisis with Athens.
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