The hawks are not yet ready to close for holidays and to send Greece on vacation. Despite the agreement between the former government and Troika Tsipras on the new Memorandum, and the will of the Greeks to approve tomorrow over 50 reforms, Germany is still reluctant to give its green light to the third rescue, so that the president of the eurogroup It decided to convene
ministers in extraordinary session on Friday afternoon in Brussels to meet in person all the resistance and evaluate whether to proceed with a new bridge loan, deferring even the final ok. The new Memorandum of Understanding with all the conditions for the more than 80 billion euro aid is ready, and it was accepted in full by the Greek authorities, who have also committed to anticipate Most large measures. Over 50 will already voted by Parliament tomorrow, ready to give his ok – net of stomach ache of deputies of SYRIZA – the pension reform which abolishes the baby, privatization and revision of collective bargaining. Making even ‘reverse some of the measures taken in recent months without consulting the Troika, like the abolition of collective redundancies that tomorrow will return possible. But the memorandum, explaining European sources, not just austerity. Indeed, a criticism that one can not do more because it is a “hard pack but the sacrifices are equally distributed,” designed with great attention to the “social dimension, to mitigate the immediate impact of these measures,” so that also provides a scheme of minimum income in 2016. In addition, due to the severe recession that the Greek economy will lose 2.3% of GDP this year and 1.3% next year, are revised fiscal targets , downsizing of the very target on surplus and assuming a deficit for 2015. Of course, some parts of the Memorandum are still poorly defined, and among them the one that Germany wanted insistently, that the fund for privatization. It is not yet clear who will manage it and how, and what assets will end up in it to be sold. This absence weighs much for Berlin, along with the lack of clarity on the involvement of the IMF still has not decided when and in which way will contribute to the aid package. For that Merkel would continue to prefer, for now, a new bridge loan to allow Athens to honor its expiry with the ECB on August 20, giving more time to the EU to clarify these issues. But Tsipras does not fit, convinced that he had done his part to the end, even going beyond what the Eurosummit asked him tomorrow will be approved by its Parliament a package that European sources call “massive” reform, and the same him submit by October, when former Troika provides the first ‘review of the program, which is subject each tranche. That is why the Chancellor and the greek prime minister had a telephone confrontation, which some media even Germans have defined a real fight, though denied by the spokesman of Merkel. A comparison that still has not moved Berlin, ready again to say her ‘nein’ Friday all’Eurogrup VAROUFAKIS
The third package of aid to Greece which has reached an agreement with international creditors “will not work.” It terse as usual wrote the former Minister of Finance of Athens, Yanus Varoufakis, yesterday on an understanding reached with the EU, ECB, IMF and ESM, which should give the green light for the euro group convened in Brussels on Friday. “Ask all those who know the state of Greece’s finances – said, interviewed by the BBC – and they will tell you that this deal will not work.” According Varoufakis, “the German finance minister has said much the same thing, went to the Bundestag, where he actually confessed that this agreement will not work.” “The International Monetary Fund – has continued – if they have washed their hands and despairs of a program that is simply based on an unsustainable debt, but this is the program that everyone is working.” Varoufakis resigned in mid-July, the day of the Brussels summit that has averted the Grexit giving the green light for the opening of negotiations for a third bailout, and was replaced by Euclid Tsakolotos.
Wednesday, August 12, 2015, 20:08 – Last Updated: 20:36
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