Euro group chief Dijsselbloem required to Friday a new proposal from Greece. Finance Varoufakis remains optimistic despite the failed calls.
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Greek Finance Yanis Varoufakis at the press conference after the meeting of the Euro Group | © REUTERS / Francois Lenoir
The discussions of the Euro- Finance with Greek government officials have failed once again. After four hours of negotiations over the debt problems of the country, the talks have ended unsuccessfully in Brussels. Previously Greek officials had informed that they have rejected a draft of the euro group.
The paper presented by Euro group boss Jeroen Dijsselbloem is “a radical bicycle kick” of the position that had been agreed in the last week before the commencement of discussions of experts from both sides, it said in Athens. From the negotiations, in Brussels was reported that there had been “a good suggestion” of the European Commission to the start of the negotiations. “Five minutes before the meetings’ Dijsselbloem then submitted its proposal for Greece” unacceptable “and that was labeled according to Greek media as” absurd “. “Under these circumstances, there will be no agreement today,” a government official was quoted as saying.
After Dijsselbloem Design Greece should express its intention “as an intermediate step, a six-month technical extension” of the current utility to apply. This would bridge the time until both sides have developed “a successor agreement”. Under the proposal, the government in Athens should undertake “long to implement overdue reforms to combat corruption and tax evasion” and explain that it will meet its financial obligations to its donors.
Dijsselbloem calls on Greece still this week a unique accommodation in debt dispute. The country must make up at least to an extraordinary meeting of euro zone finance ministers on Friday a request to extend its aid program, Dijsselbloem said. He referred to parliamentary deadlines. In some countries, the euro parliaments actually an extension of the end of the month expiring assistance program for Athens would have to agree.
The Greek Finance Minister Yanis Varoufakis rejected the ultimatum of the Euro group and an extension of the aid program for his country on Monday night. “We want a new contract,” Varoufakis said after the failed negotiations. The old program is the cause, not the solution to the problems of Greece. “It’s a program that can not be successfully completed,” he said.
Varoufakis said he assumed that there could be more European negotiations about the next 48 hours. What does he mean exactly that, he did not say. His country was still willing to do everything possible to reach agreement.
The new Greek government wants to ensure a relaxation of the previous austerity and reform requirements, which had been agreed with international creditors. So they do not want to put 30 percent of the recent austerity and reform requirements and replace it with “tailor-made” steps. In recent days, experts of the creditors of the European Commission, the European Central Bank had (ECB) and the International Monetary Fund (IMF) attempts to gain an overview of the Greek financial situation and to explore the possible trade-offs.
The finance ministers must now meet again to negotiate. Once before it came to a head in Brussels: After hours of negotiations Varoufakis had already rejected a ausverhandelte statement at the last minute last Wednesday. On Friday and Saturday followed by new discussions to explore the different positions. According to the Commission, it was with these expert interviews especially important to identify commonalities. “It was an exchange of views, no negotiation,” it said. The talks were representatives of the Greek Government and the donors of the EU, the International Monetary Fund (IMF) and European Central Bank (ECB) involved.
Even before today’s meeting, German Finance Minister Wolfgang Schäuble (CDU) had dampened hopes for a quick solution. He was “very skeptical” whether there will be an agreement in Brussels, he had said in the radio Germany. “I do the Greeks sorry. You have elected a government that behaves quite irresponsible at the moment.” To get more help from the euro countries, the country had to show a way, as it may make money in the future to pay for their own entitlements.
On February 28, runs the previous rescue program for Greece. If there is no agreement with the European creditors of the heavily indebted country until then, banks could possibly stand without affordable financing. Ultimately, the withdrawal of Greece from the euro is imminent.
The international lenders keep Greece since 2010 with huge amounts of billions from bankruptcy. But they require extensive austerity measures and privatizations. The Greek economy has since shrunk by a quarter, unemployment soared into the air, citizens get their savings from banks.
Tsipras had promised the citizens to loosen the recent austerity measures, officials canceled reinstate and increase pensions and minimum wages again. This, however, reject the lender.
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