EU: Major Decisions of the Euro Group to Greece – Times Online

EU: Major Decisions of the Euro Group to Greece – Times Online

Updates 23rd February 2015 23:34 clock

Brussels (dpa) – The Euro Group and Greece last Friday in debt dispute have agreed in principle and agree on the next steps for further financial aid to Athens. Specifically, the current aid program should be extended by four months to the end of June.

Only when the current program is successfully completed, the remaining aid money to be paid out of the Europeans. The agreements and the schedule:

REFORM LIST: To date, the Greek government will present a first list of reforms based on the existing agreements. Athens may well replace measures as far as budgetary objectives are not compromised. The “institutions” – the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) are meant – will rate the first reform list. On Tuesday advise the finance ministers of the euro group in a conference call, if they accept an extension. Until the end of April Athens has a definitive statement of its reform plans provide

PROGRAM. The “Program” is Greek to request officially known only as “Master Financial Assistance Facility Agreement” (MFFA). If the “institutions” and the euro partners approve the first reform list, a four-month extension of the current aid program of Europeans to be officially decided. Overtime not running already stretched program on 28 February at 24.00 clock from. Among other things, the Bundestag an extension must agree – probably this

Friday

REFORM COMMITMENT: Athens has undertaken reforms unilaterally without consultation with the “institutions” take back.. Basis of the previous editions, the “existing flexibility as possible” should be used. The Athens government may not take any action that threatens the financial stability of the country. The goal is to improve the growth and employment prospects durable to ensure stability and to make the financial sector resistant and increase social fairness, says the recent agreement

FINAL PAYMENT:. Only if the current program is successfully completed Athens will receive the remaining grants. This may be later than the end of June / beginning of July or – Athens should be done quickly – even before. It’s about 1.8 billion euros from the euro bailout fund EFSF and ECB profits from the sale of Greek government bonds in the amount of 1.9 billion euros. The already disbursed loans to stabilize the Greek banks are transferred back to the euro rescue fund EFSF. Misuse is to be avoided. This is reportedly about 10.9 billion euros

HOUSE: Greece must meet specifications for the primary surplus – ie a budget surplus excluding interest payments – meet.. 2015 but to the “economic conditions” are taken into account. A detailed specification for 2015 are not available. In subsequent years, the previous target of 4.5 percent of economic output

declaration EUR-group

Explanation euro group chief Dijsselbloem must be adhered to.

after special meeting on 02/20/2015 by Special Meeting

Press Conference Finance Minister Schäuble after euro meeting

Press Conference Finance Varoufakis after euro meeting

Pk Dijsselbloem, Lagarde, Moscovici and Regling

agreement between EFSF and Greece