Greece – Greece is planning further austerity on stock – Süddeutsche.de

• The representative of the European Commission, ECB and IMF agreed that Athens should decide an additional package of austerity and reform measures virtually on stock.
• So far Athens is significantly behind schedule, with regard to the necessary reforms and austerity measures.
• the international lenders and Athens have to agree on a package of measures with which the first review of the current reform program can be completed successfully.

From Cerstin Gammelin , Washington

After vigorous dispute the international lenders of Greece have first agreed in principle on a common approach in the evaluation of Greek reforms. According to information from the Süddeutsche Zeitung , representatives of European Commission, European Central Bank (ECB) and International Monetary Fund (IMF) in Washington agreed on a compromise whereby Athens decide an additional package of austerity and reform measures virtually on stock is

the measures from the storage package should only come into force when the originally planned savings and Reformmaßnehmen foreseeable not be enough to actually reach the ultimate goal:. in 2018 a budget surplus (excluding debt service) to achieve 3.5 percent. The breakthrough on the edge of the IMF’s annual meeting, where the top staff of donors met confidentially, including IMF head Christine Lagarde, ECB President Mario Draghi, euro group chief Jeroen Dijsselbloem, EU Economic Affairs Commissioner Pierre Moscovici and Finance Minister Wolfgang Schäuble.

financial crisis Europe needs Greece part of the debt issued

Otherwise there the next Grexit hysteria – and the old crisis will never let loose.

The IMF had the additional steps initially rejected as unrealistic, but relented to avoid blocking further negotiations. Schaeuble said he was confident after the meeting. The negotiators should go back to Athens to negotiate there with the government on the necessary reforms and austerity measures this Monday “as soon as possible,” he said on Saturday.

So far, Athens is significantly behind schedule is

the aim is to end this week “to come so far that we come to the conclusion in the next week” at the meeting of euro zone finance ministers in Amsterdam. He presupposes that the government in Athens “that implements what it has promised.” So far, Athens is significantly behind schedule. Schäuble showed it quite understanding and referred to the difficult situation of the country in the refugee crisis.

His confidence was “certainly not become smaller.” Specifically, international donors and Athens must agree on an approach, with the first review of the current reform program can be successfully completed. Before actually another tranche from the third credit program that includes 86 billion euros, to be paid, however, is still a fundamental adjudicate disputes.

The IMF and Berlin are at odds in assessing whether Athens’ debt in the medium term can contribute – or the debt service must be made much easier. Schaeuble insisted in Washington that he does not consider a debt restructuring necessary – financial assistance from the IMF does. IMF chief Lagarde presented after a meeting with Greek Finance Minister Euclid Tsakalotos again the condition for clear. The Fund stands ready to participate in a credit program, “which is based on sustainable and realistic medium and long-term goals and contains the necessary debt relief of European donors”.

Greece the large redistribution

During his visit to Lesvos the Pope will see that it falls short of the EU refugee pact. At least, the fight against smuggling of an impact.