Greece returns in 2017 back to the capital market, says Prime Minister Tsipras. The crisis years will soon be over. Tsipras also hinted how that is. In Brussels wanted you can not be infected by the euphoria in Athens.
The heavily indebted Greece intends to raise from next year again money on the free capital market. “We are 2017 the markets come back,” announced Prime Minister Alexis Tsipras in the weekly newspaper “Real News”. he did not name a haircut as a solution. “There are technical solutions that lead to a substantial reduction of the debt, the” Tsipras said. He think of a time for payment.
About a half year Greek Finance Euclid Tsakalotos had already spoken of a return of his country to the free capital market. At that time he had said he Peile for this step in the second half of 2016th
EU Commission Vice President Valdis Dombrovskis dampened because even the Athenians expectations. The Euro group will decide at its next meeting on May 24, neither medium nor long-term measures to reduce Greek debt, he told the Athens newspaper “Kathimerini”.
The euro zone finance ministers had agreed a few days ago, clearing the way for the disbursement of billions of aid from the third aid package if possible in May. Previously, the parliament in Athens had voted in favor of new austerity measures, including pension cuts and income tax increases of 3.6 billion euros. Dombrovskis criticized the decision of the Greek government to raise taxes rather than cut spending, as it has proposed, the European Commission
Athens expected up to twelve billion euros
He assume that after an agreement with creditors could be invested nine to twelve billion euros to Athens “, Deputy Prime Minister Yannis Dragasakis told the Athens newspaper” Naftemporiki “. a lot of it will revive the Greek economy.
in Brussels is also talk of a new payment in the order of nine to twelve billion euros. at the meeting of the Euro group on 24 . but May, should give besides austerity and reform conditions even an agreement on debt relief This is a complicated subject. for the International Monetary Fund (IMF), the previously drags the third Greek bailout package, calls reportedly more clarity when route outlined the European. They propose for the period after 2018 – then terminates the utility – including longer repayment deadlines for emergency loans before. A haircut, would waive part of their claims in the creditors, however, is off-limits.
Athens wants “automatic debt brake”
In Athens at the end of next week, the third part of a harsh austerity package of measures to be submitted to Parliament for approval by the German Press Agency information. It comes to indirect taxes of 1.8 billion euros. In addition, next week is to be endorsed an “automatic debt brake”. If the budget deviates from its operational objectives, should then contact cuts in pensions and wages, as well as savings in the public sector into force automatically and without further negotiations. Exact details would currently coordinated with the creditors. The approval of these laws through parliament is a prerequisite for further aid to Greece.
Three rescue packages
European Central Bank (ECB), EU Commission and International Monetary Fund (IMF) preserved Greece with a total of three rescue packages in total before several hundred billion euros from bankruptcy. In return, however, the country had, among other things drastic social reforms, spending cuts and tax hikes undertake. Should Greece finance back on the open market, it would have to go for any such obligations. In recent years, however, Greece was this way not to go because investors had so demanded high interest rates for longer-term bonds on the free capital market due to the high failure risk in Greece that if it was economically unsustainable for the government in Athens.