Debt crisis in Greece – Athens formally applies for new IMF aid – Süddeutsche.de

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• The Greek Government requested a new assistance program with the International Monetary Fund (IMF).
• To date, the Greek Government repeatedly expressed reservations on the participation of the IMF in future assistance.
• When exactly start the discussions with the funders is still unclear. There are still to be clarified “logistical issues”, says informed sources in Brussels.

negotiations to begin in the next few days

According to official figures, Greece has new tools at the International Monetary Fund (IMF) sought. This emerges from a report published on Friday writing Finance Euclid Tsakalotos at IMF chief Christine Lagarde. It states: “We wish to inform you that we ask for a new loan.” The term should be three years on the scope of the loan is not yet known.

This is another important step on the road to open negotiations on new long-term financial support for the heavily indebted country is done.

The Greek Government has repeatedly expressed reservations on the participation of the IMF in future assistance. In the recent Euro-special summit middle of the month, the Greek government failed however with their desires, no longer to involve the IMF at a third rescue package.

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When the talks begin, it is still unclear. In Greek government circles it had previously welcomed that the experts of the European donors were expected on Friday in Athens and the talks should start on the weekend.

In Brussels it was said behind closed doors, at the moment are still logistical issues to be clarified -. for example, where the talks will take place exactly

Euro Partners close haircut still from

Greece is in debt with more than 300 billion euros and bears – in terms of economic output – the EU’s highest debt burden. The room is a third tool that is intended to include up to 86 billion euros and extend over three years. IMF spokesman Gerry Rice had declared on Thursday, the modalities and procedures for negotiations had not yet been decided.

debt crisis Greek parliament approves second reform package

Premier Tsipras receives from the own group more support than last. The number of dissenters in Syriza stock remains considerable.

In recent weeks, the IMF had repeatedly made it clear that an aid program for Greece could not function without debt relief. Willingness to additional facilities – such as longer loan maturities – have already stressed the Euro Partners. A real haircut they close but out.

doubts about the solvency of Greek banks

The aim is to Athens government information to end the talks until 12 August. Then would not the Euro Group and the parliaments of several euro states agree. The Greek parliament will approve also the possible new aid program. As utmost date called the government spokeswoman 18 August. On August 20, Greece must repay to the ECB EUR 3.2 billion.

“3″

compromise in debt dispute What happens next with Greece

Still Athens was never before so deep cuts as now. But what exactly does the compromise for citizens and donors? Questions & amp; Reply

Bundesbank board member Andreas Dombret expressed meanwhile again doubts about the Greek banking system and urged to hurry in stabilizing the Institute. “In the current situation can be for various reasons very well cast doubt on the solvency of Greek banks,” Dombret told the news magazine Focus . Thus, the proportion of bad loans on the balance sheets of Greek banks is very high, “and he is likely to have increased further in view of the difficult economic situation,” Dombret said. Because of the problems of the Greek Institute, there will be the third bailout package for Athens a buffer for banks of up to 25 billion euros according to the plans, which means could it serve to recapitalize, but also to handle wobbling institutes.

Athens Stock Exchange on Monday could reopen

Greece is preparing for a month-long closure before the reopening of the Athens Stock Exchange. A spokesman for the operator said a proposal had been sent to the European Central Bank to question the monetary authorities for their views. The decision lies with the Finance Ministry in Athens. According to the plans, foreign investors could sell their shares and withdraw their money from the Euro-State, while this would remain closed because of the restrictions on capital movements domestic investors.

Should the government decide quickly, could in Athens on Monday again traded stocks. Because of the dramatic escalation of the debt crisis, the stock market has been closed since 29 June. Greece is slowly on its way back to normalcy after the government was able to agree on a bridge loan with international creditors. So the capital controls were eased on Friday. Companies may now transfer more money abroad in order to facilitate the import of raw materials.