Monday, August 17, 2015

Greece: Treasury closes haircut from – SPIEGEL ONLINE

Even after the agreement between the creditors and Greece about a third rescue package by the International Monetary Fund (IMF) maintains its line. The new aid program was “an important step,” said IMF chief Christine Lagarde at the weekend – and at the same time made it clear that the burden of debt “unsustainable” is yet. Additional debt relief was needed.

For the Ministry of Finance but apparently sees no basis. Parliamentary State Secretary at the Finance Ministry, Jens Spahn, dampened hopes for extensive debt relief. “At most, about in the maturities or the amount of interest there is still a limited room for improvement,” he said. “A haircut is and will remain excluded after the Euro contract.”

German Chancellor Angela Merkel commented on Sunday on ZDF similar. She pleaded for relief, rejected a debt relief but from. But with interest rates and maturities of the loans, there is still “room for maneuver”. At the same time the Chancellor

Merkel defended the hard line against Greece. In turn wants the IMF to keep the boat because she hopes that could help with its strict rules, enforce reforms in Athens. In ZDF, the Chancellor expressed confidence: The IMF negotiations also have, “he adds,” she said. Lagarde had left still open at the weekend.

The Bundestag agrees on this Wednesday in a special session on the new package from Greece, which provides for aid of up to 86 billion euros. In return, Athens has to meet strict conditions, including savings and tax reforms. With tension is expected if there will be more than 60 negative votes from the ranks of the Union when voting. So many had given it in the Parliament decision on aid to Greece a month ago. Merkel had courted again to the doubters in the ranks at the weekend.

CSU party boss Gerda Hasselfeldt wooed agreeing to the compromise. “To vote is a tough reform package with close monitoring. That is what we have always demanded,” Hasselfeldt said the “Passauer Neue Presse”. “Similarly, the required us principle is respected only aids against reforms.”

The Greens signaled support, however, strongly criticized in the course of the CDU and CSU. “The Union is in a quandary determined to call for the involvement of the IMF, but reject debt relief for Greece,” party leader Anton Hofreiter said the “Passauer Neue Presse”. “You will have to move if they do not want to be the brake on the recent compromise in Europe.” Hofreiter demanded, the bailout had to be flanked by credit facilities and an investment program.

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