Ended without agreement, the Eurogroup began this morning at 11. But there is a draft, which was announced by the Finnish Finance Minister Alex Stubb, who is asking Greece reforms by July 15.
“We have come a long way and solved a lot of points, but there are still some major issues to deal with. Now inform leaders so that they can discuss and, hopefully, to decide, “said the president of the Eurogroup, Jeroen Dijsselbloem, coming to the meeting dell’Eurosummit.
This morning the President of the European Council Donald Tusk had announced that it had “deleted #EUCO today. #Eurosummit Will begin at 16 and will go on until we conclude discussions on #Grecia. ” The objective, European sources point out, is to reach an agreement this evening “ at the level of heads of state and government of the Eurozone to start negotiations” with Greece. For this would be decided the cancellation of the summit to 28 was decided because “you are working to Plan A and not a Grexit why it needed a preparation to 28″.
” We can reach an agreement, if all parties want it. ” The premier said the greek, Alexis Tsipras, coming to the meeting dell’Eurosummit. The greek premier said he was “ready for a trade fair. We owe it to European citizens who want a united and not divided. ” Matteo Renzi also positive: “Compared to the starting point we are very close” to a deal, said the prime minister arrived in Brussels. “The distances are approached by far.” This morning, in an interview with Al Jazeera, Renzi was categorical: “One can not imagine a Europe without Greece,” he said.
Chancer the French premier François Hollande: “France will do everything to reach an agreement today allowing Greece to remain in the euro zone. Today it is important to defend our notions of Europe and not national interests, “he said, adding that” there is a temporary Grexit: Grexit or there or not. “
instead pulls the brake hand Angela Merkel: “There will be an agreement at any cost, we will have to assess whether the advantages outweigh the disadvantages. The negotiations will be very hard, the most important currency that has been lost is the confidence. “
A document calling on Greece to push through reforms in Parliament by July 15, was instead announced by Finnish Minister of Finance Alex Stubb. It is, he said, reforms as “ pensions and VAT and privatization.”
The clash
According to rumors, last night around the table of the Eurogroup would be completed as harsh a clash between German Finance Minister Wolfgang Schaeuble and ECB President Mario Draghi to “recommend” to close the meeting there. In particular Schaeuble, before Draghi which basically explained how to avoid Grexit, would apostrophe saying, “Do not take me for a fool!”.
A quarrel then denied: “No clash, only an exchange of views during the debate, “stated sources of the ECB.
The meeting then resumed this morning and the hope is that the climate is more relaxed. In the afternoon, the ball is still passed to the Heads of State and Government of the Eurozone, it will be up to them to decide whether to give more time in Athens – some say a week – to move from rhetoric to action by launching at least some of the most important reforms and thus regaining the trust of partners. But the collapse of Greece is imminent and the only way to avoid it is to continue – as conditioned and limited – of the support program of the ECB to Greek banks. But Schaeuble hypothesis that, at the time, seen as the wool over the eyes.
The case of Finland
Yesterday ministers have preferred to put a night of sleep between a day of heated discussions and another that will not be outdone. The front of the countries hostile to Greece is wide, and also broke the case Finland: Parliament denied permission to negotiate a new bailout for Greece, and the government is at risk of falling if not respect the indication. “The discussion is still very difficult, but the work is ongoing,” said the president of the Eurogroup Jeroen Dijsselbloem after the meeting which lasted nine hours. The weekend of truth for Greece starts badly. The Hawks have risen up, sweeping away the optimism spread by doves until yesterday. The leader of the tough, Wolfgang Schaeuble, is rigid: Tsipras does not believe in, does not accept his plan, proposes a ‘Grexit’ for five years.
The Merkel would seem more available, and that is why the Eurogroup ministers will pass the ball to the summit. After the ‘technical former Troika have promoted the plan greek, providing aid to more than 70 billion euro, the showdown now is all politics, and only leaders can decide whether to continue to keep Greece in the euro or accompany it at the door. More than a problem of measures, which also are filing within the Eurogroup, now it is “a big deal of confidence,” summed Dijsselbloem before the meeting. “I do not see how we can easily reach an agreement: the greek government has done everything to undermine confidence,” says dry Schauble. The Dutch deputy minister tries to explain: “The plan is weak in some areas, we will start negotiations until all conditions will be satisfied, but there is serious concern on the implementation since the Greeks are proposing something that a week ago had been rejected at referendum. “
A ‘inconsistency’ that must be resolved, said the Maltese minister. Confidence has failed not only to the ‘challenge of Tsipras EU, with the convening of the referendum surprise, but also because yesterday in Athens’ parliamentary majority has eroded and it is very difficult to pass reforms, “without a majority wide, he has clarified the Irish Minister Michael Noonan. With a similar situation, the Eurogroup hawks have easy game. Athens has many cards to play, if not promise to speed up the approval of the proposed reforms and the euro group. The ministers want it to pass quickly the VAT reform, the abolition of the baby pensions, the liberalization of television licenses, the abolition of monopolies, privatization promises.
The Minister Tsakalotos is ready to accept all but this time the Hawks simply not enough even that. Even Portugal rises against not see why dedicate a portion of its small GDP a rescue greater than what he had. France and Italy trying to broaden the front of supporters, who now has also embarked former Troika promoting the plan greek. But it will be difficult to involve the large number of ‘followers in Germany: Slovakia, Finland, the Netherlands, Estonia, Lithuania and Latvia. At best, with an agreement, the conditions are harsh. Eurogroup, Schauble is to lead the negotiations. Even with ‘she hits little lawful. A meeting in progress, Fas appears on a document of his ministry explaining how Athens has only two roads. The first, improving its proposals quickly and completely, with the full support of the Parliament and transfer assets, amounting to 50 billion, to a fund. Hypothesis that also raises the Eurogroup. The second, leave for five years the Eurozone, restructuring its debts. Hypothesis that European sources immediately declare “not feasible.” The ‘Noh Berlin for now sounds loud and clear even on the IMF’s proposal to extend debt maturities greek 60 years. But even Germany may oppose to the end, because there is a risk not only the fate of Greece: “An uncontrolled collapse of the banking system as greek sovereign debtor would cast significant doubt on the integrity of the Eurozone as a whole,” he writes the Fas, citing the document of the ECB, European Commission and IMF.
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