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Video Tgcom24 – Economy

11 July 2015

After 10 hours of discussion, the Eurogroup on the future of Athens reconvened for Sunday morning. Skepticism on the proposals of Tsipras

 
 
 
 
 
 
 
 
 
 

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00:11 – The German Finance Minister, Wolfgang Schaeuble, launched the idea of ​​ a Grexit “for five years, time in Athens to restructure the debt. ” Writes the Frankfurter Allgemeine Zeitung and is being the Eurogroup . EU sources describe as “unworkable” the hypothesis while Greece makes clear that a formal proposal to that effect has not been lodged. Ex troika worried by the “contagion risk” in case of collapse of the banks.

Even before the start of the Eurogroup meeting, Schaeuble had shown his doubts defining “not credible “proposals Hellenic . Skepticism was also expressed by the president of the body, Dijsselbloem: “It will be a meeting quite difficult . Still we did not. There are many criticisms of the Greek proposals on the substance and a big deal of confidence,” he said the Dutch politician.

Friction Schaeuble-Merkel It’s not yet clear whether the iron position Schaeuble truly represents that of Germany. According to Bild, in fact, it is taking a real “power struggle between Merkel and her finance minister “. Chancellor would in fact in favor of new negotiations with Athens, while Schaeuble opposed to further negotiations.

In a document from the Ministry of Finance in Berlin, according to the Frankfurter Allgemeine Zeitung, it says: “There are areas central to reform to modernize the country and generate growth and sustainable development in the long run. There are assumptions for a new aid program based on three years. ”

Wall Street Journal: “No to Berlin to doubling maturity debt” – According to the Wall Street Journal, Germany would, however, opposed the extension of the maturity of the loans to Greece 60 years, the IMF advice. For the US business daily, the Fund believes that the maturity of the loans from the euro would be doubled from the current 30 years to make it so the greek debt more manageable.

Ex troika fears contagion effect – “An uncontrolled collapse of the banking system as greek sovereign debtor would cast significant doubt on the integrity of the eurozone as a whole.” And ‘what would be written, according to the German media, on a document of the European Central Bank and European Commission prepared in consultation with the IMF. The contagion effect could relate to countries that have branches of Greek banks.

Ten hours of discussion – The new extraordinary meeting of the Eurogroup has started around 16, with about 30 minutes late; after 10 hours of deliberations, the summit ended just before midnight and was reconvened for Sunday morning at 11.

Dombrovskis: “There will of agreement” – shines a bit ‘more of optimism in the words of Vice President of the EU Commission, Valdis Dombrovskis: “We are clearly making progress, there is a will to reach an agreement, and now in Parliament there has been a turning point because there is a majority for move on. ” “There remain many concerns, but we need to discuss to give a mandate to negotiate a new program,” adds Dombrovskis.

Athens: “With understanding banks open weekdays” – “If you come to an agreement, the banks would reopen next week.” This was stated by Minister of Economy greek, George Stathakis, speaking on local television. Capital controls remain however in force even after the reopening of banks.

TAG:

Grexit

Greece

Eurogroup

Jeroen dijsselbloem

Wolfgang Schaeuble