Tuesday, February 17, 2015

Greek bailout: Schäuble – “On 28, 24 clock, is over” – THE WORLD

Greek bailout: Schäuble – "On 28, 24 clock, is over" – THE WORLD

The debt dispute over Greece threatens to escalate into open conflict. While Finance Minister Schäuble a rapid decision Greece calls Tsipras said on Tuesday before his deputies SYRIZA party, there would be no compromise.

In addition criticized Greece Prime Minister Schäuble personally. The German finance minister lost his composure in the Euro group meeting on Monday. There are words like that undermine the Greek authority, Tsipras said.

German Finance Minister Wolfgang Schäuble had recently asked the Greek government debt dispute at an early decision on further assistance. “The question remains whether Greece ever a program wants to or not,” Schaeuble said in Brussels on Tuesday.

The next steps will this from answering depend question. If the current utility that was extended at the request of the former Greek government until the end of February, will not shut down properly, “will create a difficult situation,” warned Schäuble. “On the 28th, 24.00 clock, is over.” But he would not speculate further about what that meant. “We all know that the situation in Greece is not better.”

In the Euro group there was a “completely unanimous position,” Schaeuble said. Greek Finance Minister Yanis Varoufakis had not previously been very effective in convincing their colleagues in the Euro group from his standpoint. Personally he had with Varoufakis but no problem, Schäuble said.

Insider of the European Central Bank (ECB) spread, however, that a sudden end of aid for Greece at least is not expected this week. Would deliberate on Wednesday about how to handle the emergency liquidity assistance for Greece.

Europe called for government officials, the new leadership in Athens, to the end the ultimatum of euro zone finance ministers on Friday to ask for an extension of the current aid program. The dispute over the future course of reform weighed on the euro and European stock exchanges. Financial experts estimate the risk of so-called “Grexit” now at 50 percent. Much now depends on the European Central Bank (ECB), which could be the Greek banks at any time turn off the tap.

The Euro finance ministers it was on Monday evening not been able to resolve the conflict with the supported of left- and right-wing populist government. They put the Greeks an ultimatum to the end of the week to extend the expired in eleven days bailout program for a few months. The rejects the government in Athens, however, strictly off because she wants to overturn the agreed upon for the billions of aid in return reform requirements.

Euro group boss Jeroen Dijsselbloem asserted that the Minister of Finance are in principle willing to compromise. But it was up to the Greeks said the Dutchman. His Spanish colleague Minister Luis de Guindos also made it clear that there are red lines. So the Greeks debt would have to repay: “The ball is now in the Greek government field,” he said before the meeting of EU finance ministers

If the. the financial market cut Greece stand without support from March, threatens national bankruptcy. A key variable in the ECB. Because of the controversy it accepted by the Greek banks no-prime bonds more than a pledge for the money supply. But they tolerated far short ELA emergency aid from the Greek central bank. On Wednesday, the ECB shall decide if the money supply remains open. In the case of Cyprus, which had also locked against reforms, a threat to the ECB had brought the government to back down.

concern is also that the Greeks their Banks rush, which quickly the air would then go out. Fearing a state bankruptcy pull Greek savers already a week around two billion euros from their bank accounts from.

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