The decision -Sunday lasted until Monday. Throughout the night, negotiated the 19 leaders of the euro zone in Brussels. After 17 hours, then the agreement. The Greeks thriller Ticker.
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The facts:. All night have the government of the Euro Zone in Brussels negotiated. The summit had been interrupted frequently in order to give time for discussions in small groups. Here Greece Alexis Tsipras had already given the nod to demands of donors in many ways. In small groups we finally agreed on a multi-billion dollar privatization fund.
Should Germany Greece continue to help?
In video: In a small group of Greeks node
Tsipras plans reshuffle
19.42 Clock: The Greek Prime Minister Alexis Tsipras plans reportedly an extensive reshuffle. Thus reacting the Syriza boss to notice numerous members of the left wing to vote against further austerity measures.
Among the department heads who should go, included Energy Minister Panagiotis Lafazanis and the Minister of Social Affairs, Dimitris Stratoulis reported several Greek media unanimously on Monday evening. They are considered the leader of the left wing of Syriza alliance and to a large group of up to 40 delegates control. Syriza has a total of 149 seats in parliament in Athens
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head of the right-wing populists: Tsipras has been blackmailed
19.26 Clock: Greek Prime Minister Alexis Tsipras has been blackmailed his right-wing populist coalition partner, according to the Euro-partners. "It was a coup on the part of Germany, Finland, the Netherlands and the Baltic States", said the head of the Party of Independent Greeks (Anel), Panos Kammenos, who is also defense minister, on Monday in Greek television after meeting with Tsipras.
Kammenos remained unclear as to how his party will vote in the forthcoming vote on the new austerity measures. The right-wing populists are his words for "go" with the government Tsipras, but they reject the austerity policies on principle. The right-wing populists are the junior coalition partner left the ruling party Syriza and have 13 deputies
Agreement of the Euro Summit. Greece needs to implement reforms
19.14 Clock: In their final declaration, the 19 euro states set the baseline for savings and reforms for Greece. This should make for new financial assistance from the euro bailout fund ESM Athens in return. The Euro Summit estimated the financial requirements Athens for the next three years to 82 to 86 billion euros.
Until Wednesday (15 July), to adopt the parliamentary rules to streamline the VAT system and the long-term sustainability of to improve the pension system. The rules of the Stability Agreement have yet to be fully implemented. By July 22, also to arrangements to be adopted to accelerate court proceedings. The directive on the reorganization and liquidation of banks needs to be implemented by then. Only when the Greek Parliament approved all the obligations contained in the Summit Declaration, the negotiations for a bailout can begin.
Further reforms are necessary, because the economic and budgetary situation in Greece has deteriorated significantly. Until October 2015, the pension system will be reformed. The modernization of labor markets is at. The OECD recommendations about to Sunday shopping, final sales periods as well as the opening of certain professions are to be implemented. The electricity transmission system operator (ADMIE) is to be privatized. The aim is also to strengthen the financial sector, through better taxation of the banks. The opportunities for political interference should be eliminated.
If you think that the Greeks act this time, has not figured
demonstrations against austerity in Athens
18.39 Clock: Hundreds of civil servants have demonstrated on Monday evening in front of the Greek parliament in Athens against the continuation of austerity. They called on the government of Alexis Tsipras and the parties, not to approve the new demanded by the creditors of the country Austerity. "No more austerity," chanted the demonstrators, as the television reported. They were joined by even members of extra-parliamentary Left Party.
The union of civil servants (ADEDY) called for a nationwide strike for the day, on which the Parliament in Athens come together to approve the first package of austerity measures , From all indications'll be on Wednesday, reported Greek media. The Heads of State or Government of the euro zone had paved the way for a third bailout package on Monday night. Thus negotiations on a new aid package to begin the Parliament already has to adopt a first package of reforms until Wednesday
Gabriel-Schulz-letter. Difficult days for taxpayers and Bundestag
18.20 Clock: SPD leader Sigmar Gabriel advertises to the Brussels agreement in his party for giving the green light for negotiations on a third Greek bailout package. "We believe that the Social Democrats in this crucial for Europe days should open the way to negotiations," wrote Vice Chancellor Gabriel in a joint letter with EU Parliament President Martin Schulz (SPD) to the enlarged SPD leadership. The letter, which will also go to all members of the SPD, was completed on Monday, the German Press Agency.
All are aware that in the face of more than 80 billion euros in loans and guarantees over the next few years stand a lot at stake: "We know that this is not for the German taxpayer and for the members of the Bundestag lighter step. "
However, the SPD was convinced "that Germany can play its part in it and its contribution to the cohesion of Europe, and should afford," explained Gabriel and Schulz.
The Greek citizens should shoulder huge responsibilities in the future. A nominal haircut on the crisis the country was also the SPD rejected. The Euro Group offer Athens but indeed further debt relief by stretching the payment obligations on when the package of measures would be implemented: "This is also an important element of the agreement and gives us hope that we will succeed, a way out of the Recession debt spiral" , write the top two comrades. But one thing stands above all: "Europe has today passed a historic test night and come together again."
Greece wants 450 million loan not repaid to the IMF
18.09 clock. Greece is a due on Monday IMF -Credit not repay on time. The reports the agency Reuters, citing anonymous sources. This involves a tranche of 450 million euros. Last Greece have an IMF loan in the amount of EUR 1.6 billion not repaid, reports Reuters. This was due in June
From because of "coup" - German economists shoot against Krugman back
17.45 clock. Leading German economists on Monday harshly responded to the criticism by Nobel laureate economist Paul Krugman and other American economist at the EU-Greece-policy. "For Krugman is a business model. It increases with such statements, the attention for his column and his person, "said the scientist Lars Freiburg financial field the Frankfurter Allgemeine Zeitung" (FAZ) on Tuesday. Field threw Krugman ago that this "crude paleo-Keynesian positions" represent
The Chairman of the Advisory Council Christoph Schmidt criticized the American colleagues. "You really have to wonder if Krugman and Stiglitz have understood how Europe constructed is "the researchers the FAZ said. " We are not like the United States. We are sovereign states that have imposed binding rules within the Community. Negate that and not thinking about the long term, is narrow-minded and intolerant, "said Schmidt. Hans-Werner Sinn handle Krugman at: ". His Keynesian models are out of place, and the sound he lays hands" Greece's economy could not bring debt back on track one, but only by a devaluation. "He knows himself. Otherwise he would not recommend the exit," meaning the FAZ
said in the United States is the austerity program, the demand from European lenders Greece as a condition for new loans, economists and members of the public, however heavily criticized. At the weekend the Twitter hashtag "ThisIsACoup" had ("This is a coup"), a record number of Twitter users. The Nobel laureate economist and influential newspaper columnist Paul Krugman supported in a text for the "New York Times" the coup-thesis.
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