Greece, the EU asked for more financial support – but the Greek government apparently been inspired associated austerity and reform requirements continue from
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Athens has a letter sent to Brussels, where the government dictates they acknowledge the financial and procedural content of the existing bailout as binding. The Government also accept the financial obligations to all creditors. New measures the government would have to be fully financed by. Greece will work during the six months closely with partners to ensure that no unilateral reforms are implemented which endangered the budgetary targets, the economic recovery or the financial stability of the country.
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Athens but “no extension of the memorandum”, registered in the creditors’ claims in Athens are held, it said on Thursday from government in Athens.
Greece insisted that donors would endorse the contents of letter of application to 95 percent. The European Commission is not responsible Jean-Claude Juncker saw in the letter a “positive sign” of Greece, which enables a solution to the debt dispute – but the exact evaluation is for the Euro group
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Euro group would have to make concessions
In the letter a number of items are also listed that Greece should give more leeway. So will use the given flexibility in the current package as possible the highly indebted country.
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This sets the Euro group compared to the state last year would have to make some concessions. The extension is to be used to achieve an adequate primary surplus. So far, the Euro-partner of Greece had requested an excess of three percent this year and 4.5 percent next year. Greece also requested an extension of EFSF bonds, which were intended to stabilize the Greek banks. Greece also want to negotiate debt relief, as they were promised by the Euro group in November 2012..
The euro partners before an application for a six-month extension of the credit agreement with Athens was received. Euro Group CEO Jeroen Dijsselbloem acknowledged receipt of the auxiliary petition: “get Greek request for six-month extension,” he told o f the short message service Twitter
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Received Greek request for six months extension
-. Jeroen Dijsselbloem (J_Dijsselbloem) February 19, 2015
#Eurogroup Friday in Brussels as of 15:00
-. Jeroen Dijsselbloem (J_Dijsselbloem) February 19, 2015
This means that the conditions for a further meeting of the finance ministers of the euro zone are created. Also via Twitter announced Dijsselbloem to advise on Friday afternoon from 15 clock on the new auxiliary request. Greece had sent the letter with the request for the extension of credit support to the euro group in the morning.
In the letter to the EU partners Athens promise “balance the budget” for the six months that the proposed “transition agreement” to apply, it was said. In addition, Greece will “immediate reforms against tax evasion and corruption implement”. The half-year transition period should give Greece time to negotiate “without time pressure and blackmail” wit h the creditors a four-year reform plan. This must from the perspective of Athens include a clause “to reduce the debt” of the country.
In the afternoon, the so-called working group of euro countries should deal with the application. Greek Finance Minister Yannis Varoufakis had expressed optimism on the eve. Greece and the other partners in the euro zone is “hour by hour closer to” come, Varoufakis said.
Time is running: On February 28, the current utility of Europeans running out. Without extension Greece threatens bankruptcy. Especially since then, the European Central Bank could turn off the tap. On Wednesday evening, it granted the Greek banks, although once again an extension of the Notkreditprogramms (ELA) and extended the framework to 68.3 billion euros. As reported from central bank circles, the current ELA program runs for two weeks. Greek banks need fresh money because citizens and businesses empty vacate their accounts because of the uncertain future. However, the ECB may only grant ELA loans for a longer period if the solvency of the state is saved.
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