Wednesday, May 27, 2015

Greece: Confusion about the state of the talks – SPIEGEL ONLINE

The state of negotiations in the debt dispute with Greece will be evaluated by the participants greatly. Greek Prime Minister Alexis Tsipras widespread optimism on Wednesday. “We are on the home stretch,” the left-wing politicians told journalists. He was very confident that in the near future an agreement could be announced.

The statement caused consternation in the Euro-partners. Federal Finance Minister Wolfgang Schaeuble appeared on ARD “surprised” that was spoken in Athens of an imminent agreement. A debt or financial injections showed the CDU politician back again.

Foreign Minister Frank-Walter Steinmeier urged the government to hurry Tsipras. Each day is crucial, the SPD politician said in Lisbon. “We are negotiating with tight deadlines, because we have to get a result concluded before Greece runs out of liquidity.”

The European Commission increased the pressure on Athens. In the negotiations on a Greek reform package should as soon as possible an agreement be reached, called the deputy head of the authority, Valdis Dombrovskis, in Brussels. The discussions go forward step by step.

Looking at the rumors of an impending agreement stated in circles of the European Central Bank (ECB), there is no breakthrough. “We are in the matter has not yet come much further,” it said also of the German delegation circles before the G7 finance ministers meeting in Dresden.

Athens has plans to capital controls back

Without binding commitments under the reform of Greece blocked emergency loans amounting to 7.2 billion euros can not flow. The funds in Athens are empty, in June alone are repayments to the International Monetary Fund (IMF) of about 1.55 billion euros.

In the event of a euro exit of Greece – discussed since the election victory of Syriza alliance repeatedly – The IMF prepared the monetary union. “Let’s hope this does not happen. If it does, I am convinced that the euro will survive,” said IMF chief economist Olivier Blanchard said “Handelsblatt”.

Athens pointed vigorously back speculation that the government wanted to introduce capital controls. “Such a thing is absolutely ruled out”, Minister Giani Varoufakis. Tsipras assured the Greeks: “There is absolutely no danger for the pensions and the salaries (the public employees) and also not for the banks and cash investments.”

In Greece rumors had for several days made the rounds, the government could use the coming weekend to introduce restrictions on the withdrawal of funds from bank accounts. In the past six months the Greeks had raised a total of about 35 billion euros. Greece is due to the Orthodox Pentecost before a long weekend.

The ECB attacked the banks in Greece, according to industry sources this week not under the arms. Failed to take the volume of Ela-emergency loans 80.2 billion euros unchanged The Governing Council, told the Bloomberg news agency.

The Greek crisis is likely to be addressed at the meeting of finance ministers and central bankers of the leading industrialized countries (G7) on Thursday and Friday in Dresden. Officially, however, the issue is not at the meeting order.

The new Greek negotiators in the creditor talks, Euklidis Tsakalotos, told the “Frankfurter Allgemeine Zeitung”, it even ran already negotiations on the period after the expiry of the second aid package. “Almost by itself, the two negotiating processes have now been united,” he told the paper. In the next two weeks will make a final decision about possible connection loans.

billion debt to the pharmaceutical industry

Meanwhile, deliberated on Wednesday international pharmaceutical companies and EU representatives about the case, that Greece going bankrupt or leaving the euro zone. Such a move could disrupt imports of essential goods such as medicines. Greece imports almost all medications. “We have received calls in Brussels with the European Commission,” said Bergström. “We want that the Commission knows that our companies operate long-term and be committed to Greece.”

Greece has debts amounting to billions in international pharmaceutical companies. The country was in the company with 1.1 billion euros in debt, said Richard Bergström, Director General of the European industry association EFPIA. The member firms concerned had received no money from the troubled euro country since December 2014.

hospitals and government health insurers Eopyy unpaid. For pharmaceutical companies this meant a dilemma. They were under the moral pressure not to stop the supply of essential medicines to the Greek population.


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