“Honorable” solution or Grexit ?: Varoufakis: “Merkel has the choice” – n-tv.de NEWS

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 Sunday, June 21, 2015

 
 
 

 
 The forthcoming special summit on the Greek debt crisis casts its glow: creditors and Athens government members put themselves in position. There are cautionary and warning words – just claims and announcements. This shows time is pressing. The special summit is now likely to begin.
 

 
 

Before convened for Monday special summit with the leaders of the euro zone, the Greek Finance Minister Giani Varoufakis has been pushed the responsibility for the next step, Chancellor Angela Merkel (CDU). “The German chancellor is on Monday before a crucial election,” he wrote in a commentary the “Frankfurter Allgemeine Sonntagszeitung”. You can enter an “honorable agreement” or throw the only Greek Government overboard that was principled and would bring the Greek people on a path of reform.

In the dispute over the austerity program it is, according to Athens ultimately only to measures for 450 million euros. Creditors made additional savings in this amount as a condition for the disbursement of further aid, State Minister Alekos Flambouraris said in Greek television station MEGA.

The planned for Monday meeting of euro zone finance ministers on the Greek crisis to take place two and a half hours earlier , Discussions are now already at 12.30 clock (CET) start instead from 15.00 clock, as Euro group chief Jeroen Dijsselbloem told. To change he called first no reasons. The prime minister and leaders of the 19 euro countries are to meet later in the same building on Monday at 19.00 clock.

Schulz warns Athens before breaking

EU Parliament President Martin Schulz (SPD), however, warned the government insistently in Athens against the consequences of a break with the euro zone. In light of the threat of national bankruptcy of the country, he told the “Frankfurter Allgemeine Sonntagszeitung”: “What does not work: from the euro retire, unable to repay its debts, but expected that the funds from the EU budget continue to flow merrily.”

SPD leader Sigmar Gabriel warned of dramatic consequences for Europe when the Schuldend Rama was not solved in Greece. “A withdrawal of Greece from the euro would be a fatal signal,” the Vice Chancellor said after participating in a non-public information 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.

Even US Treasury Secretary Jacob Lew warned the government in Athens before a withdrawal from the euro. Such a move would be “connected appalling decline in economic performance” with a, Lew said in US television CNN. Above all, he will meet the Greek people tough. “I call on all sides to flexibility,” said Lew.

key demands remain

The European Commission has sent Athens to a newspaper report on Thursday another roadmap to agreement on a program of reforms. In Brussels, it said only, that day no proposal had been made – a general denial remained from

At the core demands, the authorities in Brussels held according to the report. So should Athens annual savings or additional revenues of 2.5 percent of their economic output to achieve, that is 4.5 billion euros. Each one percent (1.8 billion euros) must be provided by structural reforms in the pension system and by higher VAT revenues.

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The schedule of the Commission is therefore as like this: Athens takes in the coming week the cornerstones of creditors and backed them with credible reform commitments. Then it brings the reforms through parliament. By mid-July, then decide the euro States, in five cases the parliaments, including the Bundestag: on the disbursement of 3.7 billion euros from the current program, via its extension until at least September and an increase in funding

Greek banks bleed

Greece threatens the end of June, the state bankruptcy if hitherto no agreement on the disbursement of aid funds amounting to 7.2 billion euros will be achieved. Moreover Athens has to pay by 30 June 1.6 billion euros from the International Monetary Fund (IMF).

Meanwhile bleed supported by the European Central Bank with emergency loans from Greek banks on. Only on Friday should have lifted 1.7 to two billion euros from their accounts as reported by the Athens Press the Greeks. She discovered that in just one week five billion euros flowed from the banking system, reported the conservative Athens newspaper “Kathimerini”.

The Greek debt drama in the n-tv.de live ticker.

  Source: n-tv.de
 

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