German Economy Online: Debt crisis in Greece – EU Commission praises proposals from Athens

Sunday, June 21, 2015

Debt crisis in Greece – EU Commission praises proposals from Athens – Süddeutsche.de

Just before the start of the crisis summit on debt drama in Greece, the EU Commission praises the recent proposals from Athens.
The exact content of the transmitted in the Sunday night suggestions from Athens, is not yet known.
From noon to discuss in Brussels the euro zone finance ministers on a solution of the debt dispute. In the evening, the leaders meet.

There is talk of a “forceps delivery”

Before the special summit of the euro zone, the EU Commission’s new proposals to resolve the Greece debt dispute welcomed. They are a good basis for progress in the meeting on Monday in Brussels, wrote the head of cabinet of EU Commission President Jean-Claude Juncker, Martin Selmayr, at night at Twitter.

In addition Juncker had the European Central Bank (ECB) and the head of the International Monetary Fund (IMF), Christine Lagarde, will receive the proposals. Selmayr added in the tweet on: “In German: ‘a forceps delivery’ ‘. To content of the proposals he did not specify. The receipt of the list had not been confirmed in Brussels before.

Athens insists on “honorable agreement”

meet in Brussels want on Monday afternoon initially the euro zone finance ministers to search for ways out of the crisis. In the evening, the leaders of 19 countries of the monetary union follow. The government in Athens urges “honorable” agreement. In the Greek capital on Sunday evening thousands were demonstrating against austerity and for a tough stance against creditors.

Euro-zone Juncker and Draghi woo confidence

Fearing a collapse of Greece summit the heads of EU and ECB shall submit a report, promises to reform the euro zone. Especially depositors will be better protected.

EU Council President and summit Chef Donald Tusk had dampened hopes for a “magic formula” before the Brussels meeting. “The summit will not be the last step,” it said in his letter of invitation. But time is pressing. The current European support program for Greece runs from the end of the month. If by then no agreement on the disbursement of aid funds in the amount of 7.2 billion euros was generated, threatening the country’s sovereign default – especially since Athens until June 30 to pay 1.6 billion euros to the IMF

<. h3> Greece wants “final solution” to reach

bone of contention in the negotiations for months, must implement the savings and reforms Athens. The sponsors want to only administer further funding if Greece makes concrete commitments that are acceptable to them. This involves spending cuts in the pension system, higher value added tax and a budget with a minimum primary surplus, before interest payments and repayments.

From Athens it had been called on Sunday, Greek Prime Minister Alexis Tsipras had proposals for a “final presented solution “to the crisis. A spokesman said the prime minister had presented proposals to the required austerity measures, so there is a “final solution for the benefit of all sides” and the problem will not be moved.

discussion on this article at:
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topics in this article:
crisis summit in Brussels

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