Greece requested an extension of the grants in the Euro group. But Finance Minister Wolfgang Schäuble finds the appeal letter insubstantial and refuses consent. Click here to read the Varoufakis Writing in text.
Finance Minister Wolfgang Schäuble Greece stops if a request for a six-month extension of the much needed credit support the euro partners leave.
Schäuble spokesman Martin Hunter said Thursday, the application of Athens was “no substantial Solution”. The criteria of the Euro Group for billions more transfers are not met.
The “star” has the letter now released.
How the appeal letter to Finance Varoufakis is in the text
“Dear President of the Euro Group,
over the last five years have made the people of Greece with economic reforms tremendous progress.
The new government is committed to a more fundamental reform process to the economic strength and stability to improve the labor market situation and the level of debt in the long term -.. under the premise of social fairness, the reform process intended to reduce the social costs of the prevailing crisis
“Greece respects all obligations to its creditors “
Those responsible in Greece acknowledge that the processes to which the previous government has agreed interrupted by the recent elections and in a number of agreements were broken.
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In this context, Greece is now asking for the extension of the credit agreement for a period of six months. During this time we should move forward together and use the given flexibility of the existing agreement as possible to the current proposals of both sides – Greece and the European institutions – profit-making use
The aims of this request for extension of the grants.:
- Agreeing on mutually acceptable financial and administrative conditions, the execution of business stabilized position in cooperation with the institutions of Greece, ensures adequate primary surpluses, debt sustainability guaranteed. In addition to financial targets for 2015 are defined taking into account the current economic situation.
- Safe outreach that all new measures in cooperation with our European and international partners are fully funded, without taking unilateral action, the financial goals, economic recovery and financial stability at risk.
- The permit for the European Central Bank to provide loans again against Greek papers with poor credit are available.
- The extension of the Availability of EFSF bonds of the Greek stability fund for the duration of the new agreement.
- The development of a new treaty between Greece, Europe and the International Monetary Fund (IMF) for recovery and growth in Greece, on the current agreement follows.
- Monitoring the permit for the EU, ECB and IMF, the agreement reached.
- To discuss how the decision taken in November 2012. Decision of the Euro Group for further action against debt (Note. Red .: debt relief) can be implemented and how it can be implemented by the extended agreement as part of a follow-contract.
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standard of living and social cohesion restore
The Greek Government hereby expresses its readiness to cooperate closely with the institutions of the European Union and the International Monetary Fund. The goal is firstly to ensure the economic and fiscal stability of the country.
On the other hand only so substantial and far-reaching reforms can be implemented that are necessary to meet the standard of living and social cohesion of millions of Greeks through economic growth and restore a strengthening of the labor market “