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Monday, May 11, 2015
Greece run out of time, it’s for quite some time. The Athens government smiled fears away. But Finance Minister Varoufakis is laughter passed. He admits that the Hellenenrepublik financially can not hold out much longer afloat.
The danger of state bankruptcy Greece, according to Finance Minister Yanis Varoufakis only “a few weeks” before he runs out of funds. The liquidity position of Athens was “a terribly urgent problem,” the politician said after a meeting of euro zone finance ministers in Brussels. Greece trying to find with international donors a “common denominator”. This is “not easy”, but in recent weeks there had been a “significant rapprochement”. Want
The euro zone finance ministers of Greece more pace in the negotiations with the international lenders. In a statement issued in Brussels Declaration welcomes the Euro Group “the progress that has been achieved so far”. At the same time the responsible ministers stressed, however, that “more time and effort are needed to bridge the gaps in the outstanding issues”.
Euro group chief Jeroen Dijsselbloem said after the meeting, from Greece would now be “more detailed proposals “expected, so that the institutions could calculate on its basis, whether these were sufficient. There there was “still a lot of work to do”. The utility of Europeans for Greece expires at the end of June
The government of Prime Minister Alexis Tsipras negotiated for months with the euro partners and the International Monetary Fund (IMF) on further financial support -. A total of more 7.2 billion euros. Therefore Greece must submit a coordinated with the institutions of the donors list of reforms, but delayed repeatedly for weeks.
The Euro group welcomed “the intention of the Greek government to speed up its work with the institutions” it said in the statement. Recent advances were made possible when “work processes reorganized and streamlined” was. This had enabled “substantive talks” with Athens. As it provides for the agreement of 20 February, the euro group will decide only about the “possible payout of funds” from the current assistance program, if the institutions have reached an agreement at the expert level.
Athens transfers on time to IMF
The declaration of euro zone finance ministers was “a clear sign that the process continues,” said an EU official. “That’s something.” Whether this is sufficient and the European Central Bank (ECB), he did not know. “They have their own way of doing things.” The Greek government had hoped, according to Athens of the meeting, among other things, that the ECB allowed threshold for short-term government bonds (T-bills) raises so that Greece remains fluid.
More onIn spite of its financial difficulties Athens led the timely transfer of repayment to the IMF about 750 million euros in the way. Date for the payment was the Tuesday.
Because of the extremely difficult financial situation in Greece had been feared that the country’s debt in the future could no longer settle. The government in Athens stressed but always, they will fulfill their obligations.
The next payment to the IMF stands on 5 June and is 302.5 million euros. Between June and August Athens has to repay a total of 11.5 billion euros from the IMF and the ECB, which is likely to be to lift without help from the outside barely. In addition, the country needs to find prospects for renewal of short-term government bonds over three and six months for a total of 9.2 billion euros.
Source: n-tv.de
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