The 28 EU countries reached an agreement in principle on the bridge loan to Greece from 7 billion. The official announcement will be given tomorrow. This is what the agency said Bloomberg.
The Eurogroup ‘welcomes the adoption by the Parliament of all greek commitments all’Eurosummit’, calls for agreement other planned reforms on July 22, and gives the green light ‘in principle’ to the third rescue ESM , subject to the completion of the votes of national parliaments expected by the weekend. “Based on the positive evaluation of the institutions, which have concluded that the authorities have implemented the first set of measures in time and in a satisfactory manner, we decided to give a go-ahead in principle to ESM financial support for three years, subject to the completion of relevant national procedures, “it said in a statement the Eurogroup. “After the completion of the procedures and the formal decision of the board of Governors of the ESM expected by the end of the week, the institutions will be given the task to quickly negotiate a Memorandum of Understanding (MoU) detailing the policy conditionality attached to financial assistance ‘, ie all the reforms and measures that Greece will make it in time before any outlay. The Eurogroup then asked the Greek authorities to rapidly adopt the second set of measures by July 22 as planned dall’Eurosummit, and update legislation related to the first set of measures.
The rating of the greek parliament is an “important step”, a “very large majority supported the package,” which went “on time and in a satisfactory manner,” said a spokesman for the European Commission , referring to the “yes” grossed Tsipras yesterday from the reform package agreed with Brussels.
A temporary Grexit “would for Greece the best way “, has meanwhile reiterated this morning the German Minister of Finance, Wolfgang Schaeuble . Many economists think it is impossible to solve the problem without a haircut, he said: “But a real haircut is incompatible with membership in the monetary union.” Responding to a question about the harsh criticism came from many quarters strict attitude of Germany in negotiations with Athens, Schaeuble said that “it is not to impose anything.” But to help Greece so that “sooner or later” can afford the lifestyle to which he aspires. To achieve this we need reforms that will lead the country to be competitive.
“We have never said we forced” Greece to leave the euro, Schaeuble said: “We can not and we do not want it. He has not offered any. ” German Minister for the combination of an exit from the euro and a haircut context is seen also in Greece more and more like “the best way”. The problem is that the Greek Prime Minister Alexis Tsipras pledged with the Greeks to remain in the euro However, he added: “I think it’s more a problem of a political party, that the election campaign has made promises that had been made warns against doing. For example to me. “
Tsipras, struggling with the split of Syriza, has decided to” proceed as quickly possible to cabinet reshuffle within a few days , if not today, “referring qualified Greek sources, specifying that according to surveys confidential, consent for the part of Syriza remained loyal to the prime minister” is around 40%. “
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