Greece Finance Minister Yannis Varoufakis has advertised at Europe’s supreme monetary authorities Mario Draghi for the new debt and austerity measures in Athens. “I have explained Mr Draghi that our government is convinced incontrovertible fact that there can be no ‘business as usual’ in Greece anymore,” Varoufakis said after the meeting at the European Central Bank (ECB) in Frankfurt. “This is also true for the (EU) program that the crisis fired in our country and has caused a major humanitarian crisis.” The conversation had given him hope Varoufakis said, without going into detail on the content.
Draghi initially did not comment. However, hearing from central bank circles that the ECB refuses to previous proposals Athens in the fight against the crushing debt load.
The ECB is reportedly unwilling to extend the terms of Greek loans. In addition, the central bank does not want the current ceiling of 15 billion euros for the issuance of short-term money market instruments (“ T-Bills”) – as required by the Greek government – increased by ten billion euros , Thus, the new Greek government will finance Prime Minister Alexis Tsipras for a few months until a more comprehensive scheme with the debtors of the country is under negotiation.
Meeting with Schäuble
the end of the month runs the Utility of the country. Greek banks could no longer be lodged as collateral for central bank money at the ECB Hellas government bonds. Without an extension of the program a panic in the markets of Greece may already drifting into bankruptcy before the summer is pending the repayment of some larger loans.
On Thursday wants to Varoufakis in Berlin with German Finance Minister Wolfgang Schäuble (CDU) meet .
“I have great respect for Dr. Schäuble,” quoted the news agency Ansa Varoufakis. “I have been following his articles since the 80s. He has a very intellectual and European approach. However, the policy affects all. I’ve only seen three weeks ago in politics, so I’m optimistic about the possibility of an agreement,” said the Greek Finance Minister.
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