After the European Central Bank (ECB) had the troubled Greek banks impedes access to financial resources, brought a meeting between German Finance Minister Wolfgang Schäuble ( CDU) with his counterpart Giani Varoufakis no approximation in the matter. “We all agree that we are not in agreement,” Schaeuble said after the talks in Berlin.
Varoufakis suggested overlooking the Chancellor Angela Merkel (CDU) demanded austerity while softer tones on. “We need Germany on our side,” said the nonpartisan economics professor, who had taken in the Cabinet of the Left Alliance SYRIZA with the right-wing populist party of the Independent Greeks the finance department. However, content would you not even agree on the differences.
Special tilted
The ECB had increased the pressure on the government of Prime Minister Alexis Tsipras on Wednesday night. She tilted a special arrangement whereby Greek government bonds could be used as collateral for further loans the Fed before.
As of February 11 this is now no longer possible. Justification of the ECB: It is not certain that the review of Athens austerity and reform program could be completed successfully. This is a serious blow to the Greek banks, which depend on the money drip of the ECB. You now need to take a higher cost emergency loans over the Greek central bank to complete.
Athens issued Troika austerity and renunciation
Greece has around € 320 billion debt. If the end of this month expires the existing EU aid program, the coffers of the country and its banks could quickly empty.
Athens had indignantly responded to the step of the ECB. The meeting of Schäuble and Varoufakis, who advertises on a European tour for a break with the recent austerity, as was particularly explosive.
Tsipras reiterated in Athens, his government will deliver on its promise to the Greek people and a comprehensive discussion about an end to the austerity programs to encourage: “We will draw a line under the chapter Troika and their (savings) policy.” “Never fail the respect”
Schäuble called Varoufakis on the other hand, to comply received agreements: “Reliability is the prerequisite of trust.” He demanded that the negotiations with the so-called troika of inspectors from the International Monetary Fund (IMF) to include the European Central Bank (ECB) and the European Commission again.
“A high degree of reason” to be expected
Varoufakis replied that the partners in the EU could of Greece “a high degree of reason” expect. This encompasses the willingness to engage in effective reform. He spoke again about the possibility of rescheduling – instead of the initially requested haircut for Athens. Schaeuble said he had been out agreement with Varoufakis, “that the subject haircut not of current importance” was.
The European Commission also urged Athens to continue the reforms. The Greek economy could in 2015 to grow by 2.5 percent – “based on the assumption that it goes on with reforms and fiscal discipline,” Monetary Affairs Commissioner Pierre Moscovici said at the presentation of the winter term outlook in Brussels
Greece. problems are complex
The aid program for Athens could only be terminated if the donors Troika have completed their inspections in progress, Moscovici said. In the opinion of Euro Group boss Jeroen Dijsselbloem the negotiations do with Greece to tackle the debt crisis time: the problems of the country were complex
In the financial markets, the dispute between the ECB and Athens had initially created uncertainty.. By Thursday afternoon, the Dax but recovered almost completely after a weak start. Also, the benchmark index of the euro zone was only slightly negative
. Video: Merkel: no cleavage of the euro zone by Greece
No comments:
Post a Comment