Greece debt crisis: The application case – Times Online

Greece debt crisis: The application case – Times Online

The Euro finance ministers remain hard – Greece and drive more and more into a corner: The government should continue the current reform program. A no-go for Tsipras.

16th February 2015 23:49 clock

The Greek finance minister at the press conference after the meeting of the Euro Group | © AP Photo / Geert Vanden Wijngaert

It’s a thriller, a Euro-theater performance at its best, the clock starts at 18.30 in Brussels with a leaked closing statement. Dozens of journalists let frantically rushing through the copier. By 21 clock also ends the show, as the new Greek Finance Minister Yanis Varoufakis, this enfant terrible of the euro zone, the end of his press conference with a pool of water in front of him on the table has to fight: a vice erupting water bottle.

Frantic be unpacked handkerchiefs, blotted his Speech, embarrassed grimaces cut. But Varoufakis spared nothing. And in between? There are the Germans, who put Greece under pressure to finally fulfill reforms. . And the French EU Monetary Affairs Commissioner, which sounds quite conciliatory

The Euro Group expects this Monday in Brussels on full confrontation with Greece – and risked very aware that a Grexit, the Greek exit from the euro zone, not more than can be dismissed completely unlikely. About four hours meet the Euro finance ministers to Greece. At the end of Greece gets de facto an ultimatum: If finally an application and sign as soon as possible an extension of the current reform program (a formulation that is a taboo for the new Tsipras government), then we can about certain changes and payment next discuss money.

It is the application case for Greece: No application for renewal no new money – which will make the euro countries Greece brutally clear. De facto, this means that potentially meet the Euro finance ministers to another special meeting on Friday. It would be the last chance for a deal, because next week is the allerallerletzte chance that the Bundestag can discuss a continuation of grants. But now real.

Varoufakis is clearly ambiguous

And the Greeks? Yanis Varoufakis is on his press conference clearly ambiguous: he thought it possible that Greece could still some in the next 48 hours, its funders – on what exactly he is holding open. On the other hand he draws red lines, lenders such as the International Monetary Fund will not accept.

But first things first. This intimate play in the windowless rooms of the Council building in Brussels starts with said two-sided paper that can circulate the Greek Government evening. It is the “European statement in Greece” in the draft version Between 14:45 clock, exactly fifteen minutes before the start of the Euro group meeting. At The Edge has branded handwritten on the edge of someone’s words “current program” (current reform program of the Troika) with two XX. From the negotiations, the Greeks reportedly that it probably was indeed a boldness that you got so submitted about. That could not sign the Greek Government, finally you’ve promised the voters at home that fit with the reform requirements of the Troika is.

No smile, only serious mines

Then the official press conference of the Euro group and the representatives of the International Monetary Fund, the euro bailout fund, the ESM and the European Commission. Three men and a woman face stiff on stage in the press room, no smile, serious mines. IMF chief Christine Lagarde has not selected this time the casual leather jacket as yet last week Wednesday, but a black suit, white blouse. It sounds strict: If there are no further reforms in Greece, then there is no payment of much-needed emergency loans. About Home: An IMF review of Greece was long overdue.

Euro group chief Dijsselbloem are disappointed. Actually, all euro zone finance ministers would have expected that Greece finally presenting concrete ideas on this Monday. That is not happening. You have a “slight feeling of disappointment,” he understates diplomatic polite. And continues: Now the Greeks would just make a request – usually once passing anything.

Only EU Monetary Affairs Commissioner Pierre Moscovici sounds somewhat forgiving on the podium. One should not assume that was already closing, says the Frenchman. And when it came to the choice of words: memorandum or contract, Troika or institutions: it was but just not important. The Greeks should submit an application for renewal. “We need to think logically and not ideological,” he says. It sounds almost pleadingly.