The debt-ridden Greece needs money at very short notice. Shortly before the EU summit, the Greek government has granted a liquidity problem. They need the support of the European partners to avoid a cash shortage, the Deputy Prime Minister Yannis Dragasakis said on Greek television. According to a media report, the cash-strapped government now wants to borrow money even large corporations for money.
The state has already started to contact with major utilities such as Athens Water and Public Power Company, the newspaper “Kathimerini” reported, citing anonymous sources. These companies should therefore buy the charge of the government debt management Finance Agency money market securities with short maturities.
Since August received no new money
Also, the telecommunications company OTE’m sure the question. However, the State maintains only a ten percent share of the German Telekom 40 percent. All three companies wanted the report initially not comment
Creates there is still time to raise Greece the money?
EU Parliament President Martin Schulz estimates the short-term financial needs of Greece up to three billion euros , Government Vice Dragaskis said since August that his country will not get any credit tranche of the utility of the euro partners and the International Monetary Fund (IMF) more. The State but met all financial obligations during this period. “It has its limits.” That is why Greece has a liquidity problem.
“In order to fulfill our commitments, we need the good cooperation between the European institutions,” said Dragaskis. At the same time obviously tax revenues have fallen well below forecasts.
solution at EU summit necessary
Greece, the threat of state bankruptcy, expects the EU summit on Thursday and Friday in Brussels rapid assistance of the European partners. On the sidelines of the summit there is a crisis meeting in small groups between the Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel. French President Francois Hollande, ECB President Mario Draghi, European Council President Donald Tusk and Euro group chief Jeroen Dijsselbloem take participated.
Sets Greece’s reform commitments credible to, the government could short on money its partners hope in Europe and the IMF together of seven billion euros.
The cash-strapped country needs on Friday another rate over 350 million euros a loan from the IMF pay. Further payments are at the end of March. Martin Schulz spoke in Germany radio “two to three billion” necessary to … maintain its current obligations. The financial situation of the country was “dangerous,” said Schulz. “Time is running out,” warned the social democratic politician.
Conversations with international donors failed
Athens running out of time. Especially as the talks between the Greek government and international donors are apparently initially rejected on further cooperation. Political circles in Athens confirmed on Wednesday evening a press announcement of “Handelsblatt Online”. In Brussels it was said The talks were put on hold .
Athens show no willingness to cooperate, told representatives of the European Commission, ECB and IMF, according to the Journal for a phone Unlock with the Ministry of Finance in Greece.
willingness to reform Tsipras required
In addition, the government in Athens have adopted new government spending without consultation and therefore contrary to agreements. This is a chance to meet the requirements of the current aid program to the end of April, only slight. The Greeks had the Troika institutions’ reset before the door, “it said in Brussels
A diplomat said.” The situation is deteriorating, we must find a solution. ” The leader of the Liberals in the European Parliament, Guy Verhofstadt, demanded Tsipras reform. “It is very disappointing that we have been waiting for months at a serious reform plan.”
Germany and other lenders insist in debt dispute on meeting conditions of the Euro finance ministers. This means: New Guide billion are strictly linked to reforms and the conclusion of the already twice extended pilot program. Merkel has invited Tsipras for next Monday to Berlin.
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