Friday, January 30, 2015

Greece wants to throw Troika – Hamburger Evening Gazette

Greece wants to throw Troika – Hamburger Evening Gazette

01.31.15, 02:25

Euro group chief Dijsselbloem travels to Athens to negotiate. Finance Varoufakis has its own plans

By Jan Dams, Martin Greive, Boris Kálnoky

Athens / Berlin. Between the new Greek government and the Euro Group, there has been an uproar. Greece will will no longer work with the lender inspectors of the troika, the Finance Minister Giani Varoufakis said after a meeting with euro group chief Jeroen Dijsselbloem in Athens. The imposed austerity program was not implemented. The Greek people have rejected it in the elections last Sunday. Dijsselbloem urged the Greeks to honor their promises. An international conference on a haircut, as the new government calls them, refused Dijsselbloem. “There is already such a conference and the euro’s group.” The reform controls the troika of the EU Commission, the International Monetary Fund and the European Central Bank will be rejected by many Greeks as patronizing.

Chancellor Angela Merkel (CDU) and German Finance Minister Wolfgang Schäuble (CDU) have made clear the new Greek government led by the radical left SYRIZA coalition that a haircut is not an option. “There have been a voluntary renunciation of private creditors, Greece has been adopted by the banks billions already. Another haircut I do not see,” the Chancellor said in an interview with the Evening Gazette clear. The federal government also denied a “mirror” report, which Berlin was prepared to give Greece another tool from the euro bailout fund. The new bailout need a volume of up to 20 billion euros, the magazine writes, citing government sources. The federal government rejected the report back clear. “There are no plans for a new program,” said the spokesman for the Treasury, Martin Jäger, in Berlin on Friday.

German Finance Minister Wolfgang Schäuble had criticized, Germany have other euro-countries imposed too tough austerity, but now losing its influence in Europe. “This is nonsense. We indeed no longer live in the time of Bismarck.” For all decisions in Europe there must be a majority, some decisions have to even be unanimous. “Even so the rules and the Stability Pact are anything but a German diktat.”

On Thursday, European Parliament President Martin Schulz had traveled to Athens. Then it was said that the original information from two SYRIZA Minister, after ongoing privatization should be undone had been hastily. There were just young colleagues that one must see them. The reason for this apparent reversal of course was not the warning forefinger of the EU, but the brutal reaction of the markets. For because of the announced privatization stops the Athens Stock Exchange was broken into.

As Schulz had also signaled Dijsselbloem in advance that he (as opposed to SYRIZA) an openly confrontational tone wanted to avoid. He excelled also in practice that there could be, despite everything easier for Greece. You have already said in 2012: “. If Greece has fully met and a primary surplus generated and the economic situation so requires – an important consideration – then, as we said at the time, we could talk about further reductions” This could, for example, interest rates and maturities of rescue loans concern, also could you talk about measures how they could help the Greek economy to growth.

On the question of whether because if so violated by implication Greece from the euro zone if it does not comply with the agreements, Djisselbloem said, “No, I will not say” – he’ll go one accepts that the Greeks will adhere to the agreements .

Quite different it sounded in Athens: Dijsselbloems visit was the beginning of the negotiation process, at the end of the required SYRIZA reorganization of debt issue will stand. At the same time it was announced that Finance Minister Varoufakis soon wanted to travel to France and Italy – both highly indebted countries – probably to try to build a coalition with them in the EU against the thrifty Germans. The problem Tsipras needs a success, to avoid being the electorate as a full-bodied cream puffs. After all, he has not made the election campaign a 50 percent haircut in view, and that the other half of the debt must be paid so late that the current generation would not be affected. Quick clarifications and make more debt

A general situation impossible – Conversely, the EU can not accept this, because otherwise other highly indebted countries could direct their future spending it. makes. So it sounded because even after the end of the talks: There is “No results or decisions,” said the Euro Group boss. They had “discussed possible solutions”. He lives obviously in a very different world than Treasury Varoufakis. He said: “Greece is no longer cooperate with the troika” – that is, with the European Central Bank, the International Monetary Fund and the Euro Group. With people like Dijsselbloem So, who was flown in to negotiate.


No comments:

Post a Comment