Just before deadline is Greece and the euro partner in debt dispute have agreed. The utility is extended by four months. Athens sets in return to reform list. But the content there are new argument.
Greek government borrows money from pension fund
Tuesday, March 3: 22.37 clock: The Greek government borrows According to insiders money in pension funds and pension funds in the country to meet short-term obligations. This would include assets which the pension fund currently do not need, for example, said several of the process, people familiar on Tuesday told Reuters.
The government borrow the money for a period of up to 15 days and then pay it back with interest. “Both sides benefit,” said an insider. Because the pension funds get higher interest rates than at the central bank and the government will pay less interest than on the open market. As the pension fund loan therefore this way also some other governmental agencies of the government money. This is not new but will already handled for about a year so.
To what amount it is about, is unclear. A source had recently said that total could the government to borrow on the road about three billion euros. But it is not publicly known, how far it has already exhausted this framework. The government required each month about 4.5 billion euros to meet its obligations.
The Greek Finance Minister Yanis Varoufakis had previously stated that the country could meet its obligations in this month. Is unclear, however, as it then goes further
Athens. Ratification of the extension of the aid program is not necessary
15:22 clock: The extension of the aid program for Greece does not have to be ratified by the Parliament of the country from the perspective of the government in Athens. Prime Minister Alexis Tsipras will inform Members only on the extension of credit program, said his office staff of the German Press Agency on Monday. Accordingly, the Parliament should ratify the final agreement with our partners in the euro zone in June.
The Greek opposition parties had called for a vote in parliament repeatedly in recent days. They expect more deviants on the part of the ruling coalition. Many MPs of the ruling Left Party SYRIZA accused the party leadership to demonstrate election promises shelved.
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Madrid: Spain and Portugal hardest opponents of Greece
14:23 clock: The Spanish Economy Minister Luis de Guindos has rejected the accusation of Greek Prime Minister Alexis Tsipras, Spain and Portugal had torpedoed the negotiations in the EU on an extension of aid to Greece . “Spain has always taken an attitude of cooperation, solidarity and flexibility,” the minister said on Monday in Pamplona, northern Spain.
“I can assure you that Spain and Portugal were not the countries in the talks, which took the hardest line.” In the euro group there were no enemies. “We’re all in the same boat,” said De Guindos. Spain had participated with a total of 26 billion euros to the Greek bailout. So much money give Madrid a year for unemployment benefits. Spain had this sum have to borrow at a much higher interest rate than Greece currently paying.
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