The agreement on a cease-fire in eastern Ukraine and the failure of the Euro-negotiations with Greece dominate the EU summit, the two hours late on Thursday afternoon …
By Arne Delfs
(Bloomberg) – The adoption of a cease-fire in eastern Ukraine and the failure of the Euro-negotiations with Greece dominate the EU summit that started two hours late on Thursday afternoon in Brussels.
“There is a glimmer of hope, no more and no less,” German Chancellor Angela Merkel said on arrival in Brussels with a view to Ukraine agreement. “But it is important that the words into action now.” After about 16 hours of negotiations with the President of Russia, Ukraine and France Merkel had landed short Ago 14 clock in Brussels and was, according to an EU representative, first go to their hotel.
It is expected that Francois Hollande and the Chancellor of the other EU leaders are first informed of the outcome of the negotiations in Minsk. In addition, the round of the ongoing dispute with the new Greek government and the way forward for the financial aid for Greece is advised. According to Merkel Greece will, however, be subject only in passing.
Despite the unsuccessful negotiations of euro zone finance ministers in the night before the Chancellor was optimistic that nor could come to an agreement with Greece at the next meeting of the Euro group next Monday. “Compromises one runs when the benefits outweigh the disadvantages,” Merkel said, referring to the negotiations with Greece. “Germany is prepared to do, but you have to also say that Europe’s credibility based on the fact that we comply with rules and that we are reliable one another.”
Greece and the other countries of the euro zone had been in on Wednesday night after not more than six hours of deliberations able to agree on a joint statement on how to proceed with the financial support of the country. Earlier, the Greek Finance Minister Yanis Varoufakis had approved according to the Federal Ministry of Finance, a joint statement in which they had agreed in principle on an extension of the current aid program. But after Schäuble had left the meeting, Varoufakis have called for further financial concessions and thus made the statement at the end destroyed, it said.
Merkel and Greek Prime Minister Alexis Tsipras met at the beginning of the EU summit for the first time and exchanged a few words. A bilateral meeting of the two leaders has not yet been scheduled, according to the federal government. Since the current EU aid program expires at the end of February Greece must apply for an extension of the program in the coming days. Otherwise, the country is threatened with insolvency.
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