Display
- The International Monetary Fund offers Greece a reprieve at
- However, the Greeks keep this option still open. – and play poker on.
There are offers that you can refuse. But there are also offers that are so tempting that it is hard to refuse them. Such an offer has received the Greek government from Washington. If Athens wants the International Monetary Fund (IMF) granted Prime Minister Alexis Tsipras a reprieve. An IMF spokesman said Athens could bundle the June payment and transfer at the end of the month in one fell swoop. For this, the government in Athens would only send a note. Then the IMF would agree to the request as soon as possible.
How long will the money?
So far, Greece has however sent no request to Washington. In EU circles it is said Tsipras would not do this because he wants to keep open this option for further negotiations. Even the Greeks play poker so. The question is how long will the money to afford the payments due to the International Monetary Fund. Already this Friday must remit Athens € 300 million to Washington; total will be due in June 1.6 billion euros. Government members from Athens came forward with a message to word repeatedly in the past few days: We have no money to pay the next installment. Tsipras turn had announced that Greece definitely einhalte its promise to pay.
Well, what then? In Washington and Brussels it is convinced that the Greeks want a definitely avoid: a default. So why not combine all rates and remit the end of June? This would give Athens more time for negotiations with creditors in order to obtain the remaining 7.2 billion euros from the second bailout. In the history of the International Monetary Fund has by this bundling scheme so far only one country availed. Zambia procured 30 years ago in this way a certain suspension of payment. That leaves the question of whether Greece perceives the Zambia option
View
Ball lies with the Europeans
The International Monetary Fund makes no bones about it for some time that he would stay out best in the future in the Greek bailout. Even the current IMF program runs until spring 2016. Just last week, made the IMF chief Christine Lagarde at the meeting of G-7 finance ministers in Dresden shows that the ball now lies with the Europeans. If the euro-zone countries wanted to avoid a looming state bankruptcy, they would themselves take precautions. Once the conditions are met, the euro countries and the ECB could “give a little breathing space” to the Greeks.
Currently, however, it goes to the release of the second aid package to Athens. In the nighttime meeting in Berlin chancellery with Angela Merkel, François Hollande, Jean-Claude Juncker and Mario Draghi also IMF chief Lagarde was sitting at the table. The Europeans want the IMF would be in a possible third aid package definitely go back there. But the IMF is to be increasingly questioned why a highly developed country like Greece should continue to weigh so heavily the Community of the Fund.
After this Berlin night much remains uncertain, however, a question will be the participants of the round deal for a long time: How do they work in the future, the European Monetary Union? Angela Merkel and François Hollande have initiated their thoughts on paper. On three sides describe both what needs to be done from their perspective, to strengthen the euro zone. The joint paper, which the Süddeutsche Zeitung is present and has the first, the French daily newspaper Le Monde reports is, as a contribution from Berlin and Paris at the scheduled discussion of a possible deepening of the monetary union thought on the EU summit in June.
Merkel and Hollande want the European Commission has less influence on the economic and financial policies of the individual euro countries. Thus the authority of Brussels should continue to restrict some few aspects in their country-specific recommendations. The Federal Government defends itself for some time against the proposals from Brussels. The Germans are angry over the unchanging reminder to put more money into public investment and so to foment the demand. Also in Paris there is resentment towards the Commission. . France needs to renovate its budget, but how this should be done exactly, there is disagreement about
The proposal by Chancellor Merkel and President Hollande is clear: they want less requirements from Brussels. The European Commission should instead define common priorities for the euro area, which would have to be approved by the Euro Group or the leaders. Only then should the Commission make general recommendations for individual countries
One problem remains, however:.. The countries must also keep in mind
No comments:
Post a Comment