Athens
Greece stands facing bankruptcy – and is probably faster than expected. The International Monetary Fund has made to new calculations. Now, the debate on a new aid package cooks up.
The fact that Greece runs out of money, we have heard many times. Now it’s obviously really so far: The International Monetary Fund (IMF) expects that the Athens government in June their payment obligations can no longer meet. This emerges from a “confidential Strictly” classified as minutes of the IMF Executive Board. The meeting took place last Thursday at which paper was made public on the weekend of the British television station Channel 4.
alleging Minutes Greece has in June alone to the IMF make payments of 1.23 billion SDRs. This corresponds to 1.58 billion euros. There are also 500 million euros interest on the national debt. In July and August even eleven billion euros are due on debt to IMF calculations. The Greek government had “no way to pay the entire amount if there is no new agreement with the international partners,” says the IMF meeting minutes.
From 5 June, there could be critical. Then Athens will have to repay the IMF nearly 299 million euros. Where the money will come from is unclear. So far it does not look for a rapid agreement in the negotiations with the representatives of the creditors and the disbursement of aid funds from.
The Greek side resists the required reforms. Prime Minister Alexis Tsipras underlined on Friday night at a congress in Athens again, his government refuse a pension reform as well as from changes in the labor and collective bargaining law. Background: The strong, union-affiliated leftist wing of the ruling party Syriza sits Tsipras in the neck
from the current program are still 7.2 billion euros.. Even if the amount paid out gracefully, but this is unlikely the money would last only until mid-July. One thing is clear: if Greece not to go bankrupt, the country needs a third aid package, as it also brought German Economics Minister Sigmar Gabriel (SPD) from this week on the weekend. However, new loans are only possible if Greece transposed reforms, Gabriel told the “Bild am Sonntag”.
The need for further aid for Greece was marked indeed already in autumn 2014 from. But while at the time estimated the financial requirements to around ten billion euros, is now clear that Greece is likely to need around 50 billion euros of additional aid credits to the end of 2016.
pressure on government grows
reminder After months of fruitless negotiations between Greece and its lenders increase Germany and the European Commission to pressure on Athens. Representatives of the Federal Government and coalition, and Brussels warned the Greek government in view becomes greater financial hardships of further delays. EU Commission Vice Chief Valdis Dombrovskis urged faster reform efforts of Greece. Compared to the “Bild” newspaper he said: “We have lost a lot of time now to take the ride on negotiations, but we still need to define a tooth..” Only when Greece concluding the next stage of the reform program, the latest agreed doling could flow, he said. dpa
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