Debt dispute with Greece: The fronts are hardened – Reuters

Debt dispute with Greece: The fronts are hardened – Reuters

No agreement in sight

Federal Foreign Minister Frank-Walter Steinmeier and his Greek counterpart Nikos Kotzias. Especially between Greece and Germany, the fronts seem hard in debt dispute

. (Photo: AP)

Istanbul / Athens In the deadlocked debt dispute with Greece bounce just before a highly anticipated meeting of euro zone finance ministers, the positions adamant each other. German Finance Minister Wolfgang Schaeuble called the new Greek government at a meeting of the G20 countries in Istanbul to to honor received commitments for the current until the end of February utility.

On the question of what, if Greece this route did not want to pursue, he said: “Then it’s just over.” One could now not just away from the ongoing program on something new to talk.

The new Greek government reiterated its stance. She threatened to turn to the search for other donors. Although objective was an agreement with the EU, but if Germany remained adamant, his country had to look for alternatives, Greek Defense Minister Panos Kammenos said on Greek television: “It would be best the US, but it could also Russia or China or other his country. “

On Wednesday, the euro zone finance ministers meet in Brussels to find solutions from the debt dispute. But not the EU Commission expects to reach an agreement in the next few days.

In the financial markets has been speculated that in the euro zone finance ministers meeting, a first step could be taken towards a compromise. The Greek stock index ATG stepped in some cases, over eight percent higher.

The index for the country’s banks even climbed by more than 15 percent. At the same time, yields fell significantly – in the ten-year government bond, for example, by about 0.5 points to 10.8 percent

In a media report was previously a possible extension of the aid program for Greece’s speech.. An EU official said that the goal was to obtain a preliminary deal to a further meeting of euro zone finance ministers on Monday. Then the national parliaments have enough time to deal with it. The EU officials warned but against false dates.

Greece’s new Prime Minister Alexis Tsipras and his finance minister Yanis Varoufakis strive for a radical change of course and do not attain a kind of bridge financing from international donors to early June.

The most important dates for the Greek bailout

• The new head of government Alexis Tsipras, the Syriza has clearly won the elections of January 25, raises a confidence vote in the Greek parliament. Thereafter, the election of a president by the people’s representatives is pending.

• The finance ministers of the 19 euro nations come together at a special meeting in Brussels , Greek Finance Minister Yannis Varoufakis is intended to present the proposals of his country. Tsipras has said in Parliament that he would not extend the end of February expiring utility, but a brace bridge financing for the coming months to June on. The meeting will be the president of the European Central Bank (ECB), Mario Draghi, and the head of the International Monetary Fund (IMF), Christine Lagarde, in part, their institutions played a key role in the recent Greece rescue.

• The EU leaders hold from their summit in Brussels. It is the first such meeting since Tsipras’s office. Greece is not officially on the agenda, but is expected to play a central role. Probably a first direct meeting of Tsipras with German Chancellor Angela Merkel (CDU).

• The finance ministers of the euro zone become a regular meeting in Brussels. It will be marked by further attempts to find an agreement with Greece. All members of the monetary union would have to agree, if Athens would receive concessions. A required partial debt of Greece have ruled Germany and other countries. The Greek government hopes therefore at least a further easing of credit conditions.

• Greece’s second bailout program expires after due in December had been extended to the upcoming elections again by two months. To get the last outstanding rate of 1.8 billion euro, Greece would still have a number of conditions, the creditor troika of EU, ECB and IMF meet. Without an extension of Athens previously rejected but this seems hardly possible.

• Greece needs to debts of 3.5 billion euros the ECB repay. According to analysts, Athens should come up to this date ends meet. After that, the country would be in dire need of help to prevent the bankruptcy.

• For more 3.2 billion euros at the ECB are due.

To a further extension of the end of February expiring utility will not ask the new government. Instead, they want to turn back the reform requirements and raise the minimum wage again and set about redundant public servants again. And privatization are or should be stopped.

From the Greek population apparently she gets for her tough stance support. According to a survey conducted by ALCO with 821 participants, 75 percent are in favor of the Greeks, the negotiation tactics of the new government.