Friday, March 27, 2015

Debt Crisis: Reform list Varoufakis sends to Brussels – THE WORLD

The Greek government has completed their eagerly awaited reform list. As the spokesman of the parliamentary faction of the ruling Left Party SYRIZA, Nikos Filis said, want three close associates of Finance Janis Varoufakis travel on Friday to Brussels to present the list of the experts of the donors. Now the inspectors have to evaluate the projects.

Athens faces a liquidity problem. The cash could already be empty in mid-April. The government of Prime Minister Alexis Tsipras leaked on Friday to the press, outstanding assistance should not be soon paid to Athens, Greece will not be able to meet its obligations.

“Yes, the list is finished,” Filis said. On it stood 18 measures that Athens would bring about 3.5 billion euros. Other government sources spoke of three billion euros. Cuts in salaries and pensions reform agenda has not on the list, told the German Press Agency of circles that are close to Prime Minister Alexis Tsipras. Greece wants this year thus achieve a so-called primary surplus (excluding interest payments) in the amount of 1.5 percent of gross domestic product and a growth of 1.4 percent.

meeting of the “Brussels Group” Saturday

So far, only parts of the reform list are known. Filis said Athens planning measures in areas that remained untouched by previous governments, including the allocation of TV and radio frequencies. The rights were allocated in 1989 for the time being. Their owners needed no royalties to pay, because a final settlement was provided. There is, however, since not come. The State carried annually by escaped revenue of around 100 million euros, Filis said. The transmitter includes the largest construction companies in the country. Already tax-deferred shipowners mix with with them. In the future, pay all charges.

Another measure is the electronic connection of cash registers all shops, restaurants and bars with the tax office. This is a fraudulent evasion of VAT to be fought, as Filis said. Privatizations to give it.

The Office of Tsipras announced in Brussels on Saturday, it will a meeting of the so-called Brussels Group announce. This consists of the experts of donors. Decisions are not made at the meeting.

The inspectors of the European Union, the European Central Bank (ECB) and the International Monetary Fund (IMF) to examine whether the reforms Greece will bring enough money. The Athenians measures are intended to replace required by the donors pay cuts and layoffs in the public service. Only if the inspectors evaluate the measures to be sufficient, the working group of the Euro-group could come together to evaluate the reform steps also. In Athens, there was hope for a decisive meeting of the Euro Group middle of next week.

fear of disorderly bankruptcy

Should it come to an agreement, Bundesbank President Jens Weidmann sees significant problems. “If a member country of the currency union decides that it does not fulfill obligations, and adjusts the payments to bondholders, it is a disorderly default in fact unavoidable,” he told the magazine “Focus”. “The economic and social consequences would be severe for Greece and anything but recommended.”

Greece is cut off from the capital market, tax revenues plummeted last. Banks suffer because customers empty their accounts. They are dependent on emergency loans, the ECB has to be new grant regularly.

A study of the Hans Böckler Foundation came to the conclusion that the spending cuts recent years, the Greek economy can collapse. Without these cuts or having an elongated consolidation if it were the country better today, it said in a study by the union-Institute for Macroeconomic Research (IMK).

Athens denies resignation rumors about Varoufakis

The Greek government denied on Friday rumors of an impending resignation of Finance Varoufakis. “These rumors are baseless,” it said in the Office of the government spokesman in Athens

Varoufakis himself said in the short message service Twitter. “Whenever there is hot in the negotiations, diving new rumors of resignation, my end so on. Quite amusing. ” Previously, among other things, the “Bild” newspaper had speculated about an imminent resignation of the Minister.

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