In front of a potentially decisive meeting with Chancellor Angela Merkel and French President François Hollande, the Greek Prime Minister Alexis Tsipras has a horror scenario of the collapse the monetary union painted.
If Greece must leave the euro zone, Spain or Italy could share the same fate. As a result, this could lead to the collapse of the monetary union, Tsipras said in an interview to the Italian newspaper “Corriere della Sera”. “It would be the beginning of the end of the euro zone.” Tsipras warned that the cost of European taxpayers are enormous.
On the scheduled for Wednesday meeting with Merkel and Hollande in Brussels wants Tsipras retry a compromise to find in the dispute over the claims of creditors of Greece. Greece is under acute threat of a sovereign default.
The aid program for the euro zone runs from the end of June. Until then, a compromise on the by the donors from the European Commission, European Central Bank (ECB) and International Monetary Fund (IMF) demanded reform package needs to be found. Otherwise can help by EUR 7.2 billion not be paid.
The government in Athens has submitted in the early hours of Tuesday new reform proposals, however, were evaluated by Brussels as insufficient. The objectives set for fiscal consolidation fell short of previous agreements, it said. Thus, the targets for the primary surplus Athens did not comply (budget surplus excluding interest payments) the numbers have the EU Commission President Jean-Claude Juncker agreed last week with Tsipras
Representatives of donors -. So EU Commission , European Central Bank (ECB) and International Monetary Fund (IMF) – require a percentage of gross domestic product as the target for the primary surplus in the current year. The Greek proposal is according to a report of the “Wall Street Journal” with 0.75 percent behind. The aim of the government in Athens is to relieve the pressure to cut costs as far as possible.
Federal Finance Minister Wolfgang Schäuble (CDU), who had met his Greek colleague Giani Varoufakis on Monday in Berlin, the CDU parliamentary group reported in the Bundestag by subscription details , while nothing new had come to language. It is now up to Athens to meet its commitments. As we heard further, Schäuble appealed to the MPs not to be madden of reports of alleged standings.
Union parliamentary leader Volker Kauder (CDU) makes additional aid for Athens from further involvement of the International Monetary Fund ( IMF) depends on the Greek bailout. “The International Monetary Fund must remain in the boat, otherwise the situation under which we were willing to help, no longer exists,” Kauder said on Tuesday in Berlin and spoke of an “absolute condition”. He also criticized the attitude of Athens. “It’s not that the borrower determines the conditions under which the lender may kindly give money to him.”
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