aborted attempt at mediation with Athens: EU Commission Jean-Claude Juncker, here on Wednesday during the EU-Latin America summit in Brussels
The recent negotiations with the Greek government to settle the debt dispute have been unsuccessful, according to the EU Commission. Further discussions would now take place in the Euro Group, the Brussels authorities announced on Sunday evening.
EU Commission chief Jean-Claude Juncker had aborted his attempt at mediation. There is a distinct difference between the plans of the donors and Athens in the discussed reforms, a Commission spokesman said.
Schulz: See still room
The President of the European Parliament, Martin Schulz, still looks despite the tough fronts scope for an agreement with Greece. In the ARD program “Günther Jauch” the SPD politician urgently warned on Sunday night of the consequences of withdrawal of Greece from the euro zone. The economic success in Germany and Europe must not be jeopardized. “And therefore, as hard as it may sound, I’ll try to negotiate until the last second, precisely to prevent this tragedy.”
The 19 finance ministers of the Euro Group will meet this Thursday in Luxembourg. Schulz assured, up to this meeting, the talks with Athens would continue. The spokesman for the European Commission said: “President Juncker remains convinced that reinforced reform efforts on the Greek side and political will on all sides, a solution can be found to end of the month.”
© dpa Prime Minister Tsipras, Finance Varoufakis (left) on Saturday in Athens: Greece’s future is more uncertain than ever
Prime Minister Tsipras, Finance Varoufakis (left) on Saturday in Athens: The future of Greece is more uncertain than ever
As a new difficulty the repeated Athens’ call for a “restructuring” of Greek debt had emerged in the negotiations earlier. This would amount to a haircut in one form or another. This lean, most euro-zone countries currently strictly. A debt restructuring could be decided only in a third utility, for which negotiations – regardless of the content – there is no time
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Gabriel threatens to end the Aids
The same applies to a proposal by the Greek Finance Minister Yannis Varoufakis, after which the Greek government debt should be “converted”. He demanded of the euro crisis fund ESM should Athens “offer” a new loan with 30 years maturity. With this money, Athens could afford the repayments in July and August due to the ECB.
Earlier Greece had demanded, the ESM should take over the products bought by the ECB Greek government bonds. The euro-zone countries reject that. Controversial continue pension and tax reforms. By contrast, the Greek side wanted to get involved in the most recently expressed creditors demand to achieve this year a primary surplus (positive balance after interest payments) from one percent of economic output.
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Only if a compromise is reached, an agreement Athens with the institutions on a Greek reform program is then conceivable on the basis of the euro zone finance ministers and the IMF Executive Board could decide the release of remaining emergency loans for Athens of 7.2 billion euros.
In the euro group it was again, the last chance for a decision is clear at the meeting of the Euro Group this Thursday. Otherwise is not enough time for the associated “parliamentary processes”, therefore for approving the credit approval by parliaments of creditor nations, but also for the decision of a reform law in Greece. If the loans are not released, the Greek government is expected to be insolvent within a few days.
The SPD chairman Sigmar Gabriel warned, the shadows of the exit of Greece from the euro zone get more and more contours. Throughout Europe waxes feel “Enough,” Gabriel wrote in the “Bild” newspaper. The SPD leader threatened indirectly with one end of the support of his party for further aid for Greece. “We will not want to pay the exaggerated campaign promises of a communist government in part by the German workers and their families.”
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