Monday, April 20, 2015

Grexit debate: Varoufakis warned of a conflagration – FAZ – Frankfurter Allgemeine Zeitung

      

 
 
 
 
 
     
 
 
 
 
 
 
 
 
         

 
 
 
 
 
          On a flag stall in Athens: Greece threatens the money to go out .
     

 
                                              

 
 
     
     
     
         
         
                                                             

The International Monetary Fund (IMF) expressed more optimistic about the talks wipe Greece and the donors. “For some days a little more momentum came into the negotiations between the three institutions and the Greek government have come,” said IMF Europe chief Poul Thomsen the “Handelsblatt”: “This is a good development and is cause for hope.” However, both sides were still “far from the target.”

                         
         
         
                                                             
                                 

The budget of the Greek government would perhaps suffice to June, Thomsen said. The amortization expense, which then zukämen on the land, are very large. “We need an agreement beforehand, so that further aid loans can be paid.” The risks (“Grexit”) would be associated with an exit of Greece from the monetary union should be in his view, not be underestimated. “No one should think that a Grexit without problems would be.”


                         
         
         
                                                             

Oettinger warns of new elections

Today Europe was indeed in a stronger position, would, of course, but also risks, Thomsen said. “It would depend on the economic policy response, which would give the European governments for a Grexit.” It was particularly important to reduce long-term risks, such as “the risk that the euro zone would be considered a club in one single and can emerge as you want. ” This could in the future doubts about the whereabouts of other states pay.


                         
         
         
                                                             

Similarly, remarked the President of the Bank of France, Christian Noyer, who is also the Governing Council. A possible Greek exit from the euro would be “a trauma for the euro zone,” whose impact to the global economy would be felt inside, he told the newspaper “Le Figaro”. The most dramatic consequences but would make Greece itself. The country will suffer a major economic crisis, while nothing is done to solve the fundamental problems and against unemployment.


                         
         
         
                                                                                                                                                                                                                              

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At the same time warned Noyer, the Greek banks could soon run out of collateral they need for emergency loans must deposit. At some point, the Greek banks would likely not to be able. Therefore, the Greek government must urgently provide a program with the IMF and the euro-partners on the legs to regain confidence.


                         
         
         
                                                             

Commissioner Günther Oettinger (CDU) accused before Greece, meanwhile, to delay the necessary negotiations. In recent weeks, there was “virtually no progress in the negotiations with the Troika institutions,” Oettinger said the “Bild” newspaper. The reform efforts of the country were “low”. The country was therefore “in May finally financially with their backs to the wall,” warned the German EU Commissioner Internet. Oettinger also said it will bring Greece nothing to look for a way out in elections. A campaign would paralyze the country for weeks, increase the financial problems of the country and not change the attitude of the other euro countries.


                         
         
         
                                                                                   

         
         
                                                             

EU Commissioner calls for reform list

According to the Greek Finance Minister Yannis Varoufakis a withdrawal of his country from the monetary union would bring for other countries Euro countries represents a significant risk. “Anyone who is betting that the other countries survive if you cut a piece of the Euro-zone, which is playing with fire,” he told the Spanish television channel La Sexta in an interview broadcast on Sunday, but the before was taken ten days.

                         
         
         
                                                             

EU Monetary Affairs Commissioner Pierre Moscovici warned Greece, meanwhile, quickly submit a list reform to prevent a Euro-wide. “I have no plan B, I only have a plan A, which is that Greece remains in the euro zone,” the former French finance minister said the transmitter ITélé. “But
ensure that Greece remains in the euro-zone, we now need reforms, we can not twist the truth. There is no time to be lost. “


                         
         
         
                                                             

The adoption of a reform list submitted by Greece is a prerequisite for further international assistance payments to the government in Athens. On Friday again advise the euro zone finance ministers on how to proceed.


                                 

 
  
 
 
 
                       

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Greek debt crisis

IMF: We have renewed hope

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Since a few days more to gain momentum in the negotiations between Greece and its lenders, shall notify the International Monetary Fund , At the same time several warnings of the consequences of “Grexits”.

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