Greece: Minister announces new reform proposals to – SPIEGEL ONLINE

Before the meeting of all key actors in the debt dispute on Monday, the Greek government announced its willingness to reach an agreement. “We will try to complete our presentation, so we come closer to a solution,” State Minister Alekos Flambouraris said Saturday the Greek TV station Mega. Flambouraris is considered a close advisor to Prime Minister Alexis Tsipras. Creditors would only still request additional austerity measures amounting to EUR 450 million.

“We do not travel with the old proposal to” Flambouraris said. On Thursday an emergency meeting of euro zone finance ministers had gone without result at the end. Then EU Council President Donald Tusk had convened a euro crisis summit in Brussels for Monday: With German Chancellor Angela Merkel and other heads of state and government of the euro countries as well as the head of the International Monetary Fund (IMF), Christine Lagarde, and the President of the European Central Bank (ECB), Mario Draghi, all donors will be represented. However, both Merkel and Tusk expressed very cautious about the chances of success.

Time is short, because of an agreement in the debt dispute will depend on whether Greece still receives the last tranche of the second aid package of 7.2 billion euros. Without this, the country is on the verge of bankruptcy: on June 30, the country has around € 1.55 billion to the IMF to repay, even in July almost four billion euros to the IMF and the ECB are due

<. p> Tsipras’ confidant Flambouraris also announced on Greek television, it’ll probably be a phone call between Tsipras and European Commission President Jean-Claude Juncker on Saturday night. Juncker had been launched numerous mediation attempts between Greece and the euro partners in debt dispute. But he also seems to slow at the end of his patience. SPIEGEL Juncker warned: “I warned Mr Tsipras repeatedly that he should not count on that I can prevent failure of the talks in any case.”

Greek banking system destabilized

Also Flambouraris dampened in his TV appearance, the expectations of the crisis summit – despite the offensive expressed willingness to compromise. Although he was one of the optimists who believed that one zubewege to a solution to the crisis, Flambouraris said. But the creditors were not willing to Athens as required assure a reduction of the debt mountain. “Hopefully, they will accept it, but they will not make it, that’s my personal view.”

If the creditor Tsipras call an ultimatum to accept their plan or to go bankrupt his country, joined Flambouraris a referendum on the austerity program is not made. “That I would do,” said Flambouraris.

The escalation in the Greek crisis destabilises the Greek banking system. Because the Greeks are increasingly insecure due to a possible state bankruptcy and the risk of Grexit. They raised this week so far around five billion euros from their bank accounts from alone on Friday there were loud Greek newspapers from 1.7 to 2 billion euros. Therefore, the ECB is According to insiders no longer sure whether the financial institutions in Greece on Monday can still open. The ailing Greek banks are held anyway for months only by the emergency help of their central banks and the ECB cash.

Given the situation, the US has launched an appeal to the parties. “We believe that there is a need for Greece and its international partners, to take steps toward compromise,” government spokesman Eric Schultz said on Friday. Both sides are in the obligation.

economic sage warns medium term problems

SPD leader Sigmar Gabriel warned of dramatic consequences of Grexit for Europe. “A withdrawal of Greece from the euro would be a fatal signal,” said Gabriel at the non-public SPD Convention in Berlin. Nationalism was in any case already everywhere in Europe on the rise. A failure of the negotiations in the debt drama would reinforce these trends: There is a risk of a “European disintegration”

The economy Peter Bofinger expect from a possible Grexit short term no major impact, “neither in Germany nor in the global economy. “. In the medium term, however, the Grexit would be quite a problem Bofinger said the “Passauer Neue Presse”. Today, the euro zone was deemed impregnable fortress. “But when a country ceases to which speculators would attract. Once a country would in a difficult economic situation, bets would be closed on another euro exit.”

The History of the Greek crisis