Find EU and Greece still a way out of crisis ? Or is it already too late? The creditors are waiting for a concrete reform list of Athens. All information in the news ticker.
- Continue negotiations with Greece
- Tsipras asks Merkel by telephone to emergency summit.
- Euro finance ministers to wait for reform list.
- Varoufakis as negotiating chief deposed
Monetary Affairs Commissioner Moscovici meets Varoufakis
13.17 Clock: EU Monetary Affairs Commissioner Pierre Moscovici will in the early afternoon in Brussels Greek Finance Minister Giani Varoufakis meet. Athens urgently needs cash to meet its obligations and insists on rapid disbursements of donors. Moscovici reiterated the line of the Commission that a Greek exit from the euro zone is not an option.
From Moscovici remarks suggests that he does not expect a rapid breakthrough in the negotiations between donors and the government in Athens. “I hope we can make good progress until May 11,” he said. . On Monday next week the euro zone finance ministers will discuss again about the Greek crisis
Brussels raises growth forecast for euro zone
12.53 Clock: The economy in the euro zone sets because of the weak Euro and favorable oil prices to more than initially expected. The EU Commission is expecting the current year growth of 1.5 percent, or 0.2 points higher than predicted three months ago. Surprising is the step not because the International Monetary Fund (IMF) had its forecast for the euro area already raised. The EU agency said on Tuesday in Brussels, they expect for the coming year continue with a stronger growth of 1.9 percent. Greece comes after 2015 only 0.5 percent growth, were expected initially 2.5 percent.
Left ruled for 100 days in Athens – a small balance
11.49 Clock: From the fast-paced start to oppressive standstill: The new Greek government under the left Alexis Tsipras draws after 100 days in office a sobering. The large and generous promises have now fallen silent. Instead
is attempted with soft sounds, to explain the continuing plight. On January 25, the Coalition of the Radical Left (SYRIZA) won the elections. Just one day later, his boss Tsipras was sworn in, and the day after that was also his government. However, he had to look for a coalition partner because he lacked two votes for an absolute majority in parliament. This role took over the right-wing populists of the Party of Independent Greeks. Tsipras wanted the Greeks from the “yoke” of the troika of lenders free to bring growth and fight unemployment.
100 days after the mood in Athens is depressed. The negotiations on a solution to the financial problem of the country round in circles. “And the circle turns increasingly into a noose ever tighter around the neck of the country,” said a diplomat from a large non-EU country in Athens. The coffers are empty. Nobody invests thousands businesses closed. Hospitals are collapsing.
Where Tsipras Many and Great had promised. Greece needed allegedly run out of money. Donors, he tried to persuade to continue to be paid until it implements its own reforms. It was the other way around.
Tsipras failed also in an attempt to forge a sort of alliance of Southerners against the austerity program dictated from Brussels. Portugal, Spain and Italy would not hear of it.
In the meantime, the liquidity situation in the country worse. In order to pay the obligations of Greece and the wages of government employees, the government scratched zudammen also the last state funds. Even pension funds and public companies had to leave the country their funds.
commentators in Athens say: Without tough new austerity measures without a restructuring of the pension system Greece will crash soon.
What does Tsipras now? Something seems to be moving: He has asked his finance Varoufakis in the corner. Negotiations with donors took over the subordinate financial expert Eukleides Tsakalotos. It is certain only one thing: Greece has not much time left.
European Commission lowers growth forecast for Greece clearly
11:03 clock: The EU Commission has its growth outlook for the danger of state bankruptcy Greece significantly reduced. In its spring forecast published on Tuesday she says for the current year only an increase in economic output of 0.5 percent ahead – even in early February had Brussels 2.5 percent expected. The growth prospects for 2016 have been reduced from 3.6 to 2.9 percent
Athens informed donors – money problems growing
10.00 clock. Athens starts surprisingly a comprehensive Round with all donors. At the center stands the acute liquidity problem in the country, reported the Greek financial press. As the Government announced, Finance Minister Giani Varoufakis will meet on Tuesday morning in Paris with his French counterpart Michel Sapin. Then a is meeting Varoufakis with EU Monetary Affairs Commissioner Pierre Moscovici scheduled. On the eve of the Greek Prime Minister Alexis Tsipras had with the head of the IMF, Christine Lagarde, speaking. The conversation concerned the ongoing negotiations Athens with donors, it said government sources.
On Tuesday afternoon there is a meeting between the head of the European Central Bank (ECB), Mario Draghi, and the Greek Deputy Prime Minister Giannis Dragasakis and the coordinator of the negotiations between Greece and the donors, the Deputy Foreign Minister Euclides Tsakalotos, in Frankfurt come. The focus of these discussions the ECB’s upcoming decision on Wednesday will be a potential increase in emergency loans for Greece. These so-called Ela loans (“Emergency Liquidity Assistance”) are the last source of funds for banks in bankruptcy threatened Greece.
IMF wants euro zone compel haircut for Greece
08.35 Clock: The International Monetary Fund engages in the Greek crisis to drastic measure: the IMF threatened against the finance ministers of the euro zone in order, to withhold its share of the next tranche of 7.2 billion euros to Greece, where the European donors not at least adopt the Greeks some of their debts. ” / p> Greece is far from a rescue, says ‘The Financial Times’. Instead of a targeted primary surplus of three percent in 2015 Greece will probably be 1.5 percent in the red. In order for the Greek debt would continue to grow. Half of 7,2 billion package comes from the IMF. Without the recent bailout Greece would probably run out of money. European donors, in which the Greeks have a majority of their debt, reject a haircut for Athens far from
Video:. Tsipras is desperate allies against austerity
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