Merkel, no cuts in debt Greece but open to lengthening maturities – AGI – Agenzia Journalistic Italy

Foreign

19:21 July 19, 2015

(AGI) – Berlin, 19 July – Angela Merkel, after bringing home with difficulty ‘Friday’ the green light by the Bundestag to new negotiations on the third bailout of Greece, back to realign in part to his Finance Minister, Wolfgang Schaeuble. Chancellor confirms the clear opposition ‘in Germany “to the classic hairuct (cutting the amount due from Athens) condoning the 30/40% of the debt (the Greek public, come to share 180%, a level described as” unsustainable “by the IMF, and that is sailing towards 200%). ” One hypothesis Simplify “impossible – he said – in a monetary union”. Merkel open pero ‘the possibility’ to grant Athens new measures of flexibility ‘on the timing of payment of the debt, on terms even more’ favorable to those already ‘granted to Athens. The everything but ” not now, but only after it has been completed successfully and the first review of the program (to save 86 billion euro) “, namely that all parties have formally agreed on new bialout Greece. In an interview to the public network Ard, the Chancellor recalled that already ‘in recent years Greece has enjoyed other forms of debt relief included “a voluntary (in reality’ imposed by the governments on the night between 20 and 21 February 2012 in a dramatic summit in Brussels, with losses amounting to 100 billion euro) cancellation (this is’ a classic haircut) from private creditors, an extension of maturities (debt) and a lowering of interest rates. We can discuss these eventuality ‘again (but only) within these guidelines “Last week was the first, surprisingly, the International Monetary Fund to reject the agreement reached by the Eurogroup on Monday’ last arguing that the Greek debt had now reached levels of “unsustainability ” and suggesting or a cut or to grant a” grace period “(in which Athens will not pay ‘a penny of principal and interest) for 30 years. Thursday ‘ECB President, Mario Draghi, on the same line called for a relaxation of the conditions of the greek debt.
Be satisfied his hawks, many Friday’ they did miss a vote in the Bundestag in his own party, the CDU , but Merkel has’ stored once and for all and clearly “the proposed Schaeuble a Grexit (leaving the euro) temporary 5 years is not ‘more’ option on the table,” he cut short.