crisis
Milan , July 13, 2015 – 07:17
New interruption of the meeting of Heads of State and Government of the Eurozone: how He relates the premier Maltese Joseph Muscat, in a message on his Twitter profile, the pause is “for final consultations.” Negotiations lasting more than 15 hours and that had not a few moments of tension. During one of these, the premier greek Tsipras would also have made the gesture to take off his jacket and offer it to the party, as if to say that Greece does not really know what else to offer more.
The crux of the Fund
In the greek night the government was opposed to the creation of a trust fund content in the compromise proposal of the creditors, demanding a more limited role of the IMF in the third bailout. To meet the immediate needs of Greece, which amounted to 7 billion by July 20, the European partners would have thought of bilateral loans from some countries that then would be reimbursed by the Fund bailout. Bilateral loans and utilization of budget EFSF: these are the main tools that could be used for a “bridge loan” that would enable Greece to honor its debts in the coming weeks thus avoiding default. The appeal would allow the EFSF to meet the needs of Athens waiting for the definition and launch of the three-year aid program del’Esm. The bridge loan should be used to pay the installments of the greek debt maturing in July. During this month, exactly 20 July, Greece will have to return by the way the ECB 3.5 billion to which are added 1.6 billion of the installment due on June 30 with the IMF.
Italy
Among the countries that have accepted the proposal would also Italy. At the same time, “Italy is among the countries opposed to the idea of setting up a fund” to 50 billion privatization Greek, it learns from EU sources. France however is beginning to accept the idea in exchange for the cancellation of the sentence of the document in which the Eurogroup was expected Grexit temporary. Italy was also pressured to withdraw the clause put in the Luxembourg fund, and now on the table there would be the hypothesis that is based in Greece. But it is not only the control of the privatization fund to remain at the center of negotiations dell’Eurosummit in Brussels but also its size. The assets that the Greeks would have suggested to confer not exceed 17 billion, compared to the 50 that the Germans want.
Applications. And replicas of Athens
Approve reform of VAT, pensions, the civil procedure code, the independence of the Institute of Statistics, the creation of a set up for control budgets and the transposition of the Directive on the bank rescue. These requests Eurogroup to Greece, contained in the draft agreement on the table of the past 19 heads of state and government of the Eurozone. Harsh demands, from start to implement within three days, at least for Iva and pensions Athens – qualified according to Greek sources – considers “humiliating and disastrous.” According to the same sources, Angela Merkel would be “the most intransigent” in the ongoing negotiations in Brussels, Athens and records the “strong support” of Mario Draghi . Not only. Intervenes Defense Minister Kammenos : “Now it is clear: we want to crush. Stop now. Finally directly Tsipras : the plan to privatize the Greek assets for 50 billion as a guarantee ‘is on another planet. ” And again: “100% No to Grexit temporary,” says a government official quoted by the greek Guardian .
The rescue program
On the table there is also the demand for “completely normalize the way of working with the institutions, including the necessary field work”: in other words, it calls for a return of the troika in Athens . Except instead of cutting debt, unless Athens has accepted a Grexit time in exchange (the same hypothesis but excluding Athens). The rescue program of Greece (the third) amounts to some 82 billion to 86 billion euro.
July 13, 2015 | 07:17
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