Sunday, February 22, 2015

Greek reform list reportedly already underway – FAZ – Frankfurter Allgemeine Zeitung

Greek reform list reportedly already underway – FAZ – Frankfurter Allgemeine Zeitung



          Greek Finance Minister Yannis Varoufakis with his wife on Saturday in front of the Greek parliament in Athens.


The Greek government has sent a provisional list to reform the international lenders on Sunday, according to media reports. The list went accordingly to the formerly called “troika” designated group of EU, ECB and IMF. These institutions should return the list of comments, said Sunday in several Greek media, citing government sources. There were a three-page document. The final reform list should then be sent on Monday to the euro group.


A spokeswoman for the European Commission declined to comment on the reports. On Tuesday, the sponsor s want to discuss in a conference call, whether an extension of grants for Athens accordance with the submitted plans for reform is possible. Still in the next week, the Bundestag could be involved in the renewal application.


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The Greek Government under the left Premier Alexis Tsipras wants the euro partners with the list of their commitment to reform convince. Only if the austerity and reform proposals from the perspective of euro partners are acceptable to a really late February leaking assistance program be extended for another four months. Greek Finance Minister Giani Varoufakis was sure that donors will accept the proposals.


The reform list containing mainly consider measures to combat corruption and tax evasion, told the German Press Agency on Sunday from government. According to information from the Greek financial press Athens will also continue privatization.


After difficult negotiations, the debt-ridden Greece and the Euro-partners had made on Friday evening a fundamental agreement on an extension of the grants. By Monday evening Athens is to present a reform list. This is then checked by the “creditor institutions”. And then the Euro states must agree. Still in the next week, the Bundestag could be involved in the renewal application.


In Athens, said Sunday that difficult period will begin after approval of the reform list. ECB, EU and International Monetary Fund would take in the coming months, each new Greek law and any d ecision under the microscope, a diplomat said.


The office since less than a month left Prime Minister Tsipras had said on Saturday in a televised speech still believe there is much to be done for the country to get out of the crisis. The Greeks stood still difficult times ahead.


It is unclear what will happen to the campaign promises of Tsipras. Among other things, he had promised before his election victory that destitute families get free heating oil that the minimum wage is increased and that pensions for poor pensioners are increased. In addition, thousands of laid-off state employees should get her job back.


The Bavarian Finance Minister Markus Söder (CSU) called for a halt to the financial aid for Greece if the Greek government should provide inadequate reform proposals in Brussels on Monday. “Then must apply: Money for reforms and not for socialist benefits”, Söder said the “Bild am Sonntag”. Even after the compromise between Athens and the Euro-partner for a Söder leaving the country from the euro conceivable: “The decision lies solely with Greece. If Athens wants to stay in the euro, it has to follow the rules and get the economy going. “

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The three barriers to Athens

 Thus, the Hilfsprogrammfür Greece will be extended until the end of June, still need to follow in the coming days these steps:


  One hurdle:


 Until Monday, the government in Athens, “a first list of reform measures” must show that wants to implement it. The European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) evaluate the projects then in summary proceedings and must give the green light. According to Finance Minister Yannis Varoufakis the list should be completed on Sunday.


  hurdle Two


 The euro zone finance ministers on Tuesday in turn advise whether they are sufficient the assurances from Athens. The agreement of the institutions and the Euro group is crucial. “If the list is not an endorsement, then the agreement is dead,” says Varoufakis.


  Three hurdle


 In some euro area countries, parliaments still need to approve the extension of the aid program, as well as in Germany. That has really happened until the end of the week, as the current program ends on Saturday. Therefore, the Bundestag should deal with it on Thursday or Friday. The exact date has yet to be determined. The CSU politician Hans Michel Bach asked to vote in March on the extension. Finally, Parliament must “undergo a deep examination” changes in the program.




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Debt Crisis

Greek reform List allegedly

Until Monday Greece must present a list of reforms so that the utility is extended. According to media reports, Athens has now sent the list – and waiting for comments from the donors.

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