Friday, February 20, 2015

Euro Group reached an agreement on Greek bailout –

Euro Group reached an agreement on Greek bailout –

Date: 02/21/2015 06:00 clock

At the end of the Greek Finance Varoufakis had to give in to pressure from the European colleagues. Thus, the utility for his country is extended, he had to confess to the austerity measures. On Monday must Athens concrete reform objectives present.

By Ralph Sina, ARD Radio Studio Brussels

In new Brussels crisis meeting of European finance ministers on Greece, Federal Finance Minister Wolfgang Schaeuble heard little desire. And not on the subsequent press conferences in the late evening. “Good night. I do hope I do not see you again so soon,” Schäuble adopted in the late evening of the journalists in Brussels.

In this case, the Federal Finance Minister may with the mainly be quite satisfied of it-won. The Greek Prime Minister Alexis Tsipras and his finance minister Yanis Varoufakis must invariably comply with all savings and reform commitments signed by the previous government. In addition, initiated reforms such as the privatization of state enterprises may not be withdrawn


Four held six months extension

The savings and reform program that they refused to 70 percent, must now be implemented by them in the next four months to 100 percent. After all, only as long as the program is extended. And not, as desired by Greece for six months.

Greece are isolated in the Euro group and were all crucial points after. “That’s why we have now said ok,” says Schäuble, the makes the current agreement in the debt dispute with Athens no more headaches. “I can answer well, anyway.”

Mandatory Guidelines for the actions of the Greek government in the coming months is the utility of international lenders. “Then they based their proposals are now to make,” says the Minister of Finance to the address Athens


Now check the “institutions”

your reform proposals must submit the Greek government on Monday – and the EU finance ministers and the so-called institutions that may no longer be called Troika on request Athens. A few hours later, on Tuesday morning, then to the Revenue Commissioners of the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission to present the results of their quick checks.

Do the new Athenian reform proposals for saving profile of the old utility? Only when this question is answered on Tuesday with “Yes”, the utility is then submitted to requiring approval parliaments of Finland, the Netherlands, Estonia and Germany.

Also, the Bundestag is asked

“Do they not know that this is a fun,” Schaeuble said in Brussels that has recognizable limited desire to re-advertise the extension of the aid program for Greece in the Bundestag. Athens submits to the only grudgingly, because it desperately needs the approximately 7.2 billion euros from the auxiliary pot to avoid insolvency.

“The Greeks must have in mind that it to others worse off in the euro zone as them, “said Schaeuble. Nevertheless, the German finance minister in parliament will be standard argument present. “I have to say the Bundestag – as I have said it since 2010 in almost every debate – that I find that talking about the concerns of the people of Greece should not ignore so in Germany.”

Lets Athens follow the Promise ‘

Whether this rather lackluster argument put forward is to convince the German Bundestag, is still open?. But, if for now after a long struggle accepted by Greece utility is confirmed to Friday next week by the parliaments, only the end of April the required flow of Greece billion. Before check the lender once more if the Athens government also takes the promises of reform actions.

In Greece it go now is to regain the trust of the other 18 euro states, says EU Monetary Affairs Commissioner Pierre Moscovici.

The negotiations in Brussels had therefore been so intense because the lost confidence must be recovered, also says Euro Group CEO Jeroen Dijsselbloem.

Varoufakis looked thoughtful

However, as the Greek government to win the trust of the euro group without forfeiting their voters remains an open question. Greece’s Finance Minister Varoufakis left Brussels with the thoughtful sentence: “If our reforms will not work, then we have to tell our citizens and the euro countries: ‘We have failed.’ And we have to bear the consequences “



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