WW. Schäuble threatens Trouble in the dispute to new help for Greece. However, the Stress that comes this Time not from Athens but from the Scientific service of the Bundestag. The experts write in an opinion for the Left financial experts, Axel Troost, namely the following: “with the participation of a legal point of view according to the ESMFinG (ESM financing act) makes the participation of the IMF, however, the Bundestag does not directly plenary referral is required.”
What sounds bureaucratic, and carries a lot of explosives. Because the justification of the Scientific service contradicted schäuble’s statement that a withdrawal by the International monetary Fund (IMF) from the third rescue package for Greece, it is essential that a new aid package placed before the Parliament for decision to be brought. With this claim, the Federal Minister of Finance, had made, both to the Greeks, as well as the IMF pressure, in a dispute over a debt haircut for Greece finally giving in.
The situation looks like this: Since the adoption of the third aid package for Greece, the IMF refuses to guarantee his participation in this program. The experts of the Fund argue that the Greeks are neither willing nor politically and economically capable, the hard requirements of the Europeans. The bottom line for the Fund is: The IMF considers the arrangements of the programme was unrealistic. Therefore, the leading Europeans need to Athens also provide a significant Debt relief, the debt.
Greece, in turn, wants nothing more than the exit of his control so relentless IMF from the auxiliary measures. The presentation in Athens: If the Washington-based organization is descended from the common assistance, it would be much easier, with the Supervisory authorities of the EU Commission, softer targets to enforce.
Schaeuble is aware of the Considerations, he is aware of the tactical shenanigans of the Participants. And he is playing his own game. It is clear that the Greeks need at the latest, in the summer, fresh money, in order to serve their bonds with the European Central Bank (ECB). Until then, however, there is in France a new President. Without Barack Obama in the United States and François Hollande in France, but the government of Alexis Tsipras is hardly powerful supporters in the world. You will be more likely to give in willing.
Therefore, the Federal Finance Minister argued so far, the following line of reasoning: If the IMF gets out of the third aid package, this is obsolete. He would then have to – should Athens need further assistance and request to the Bundestag a new aid package, the Parliament then must decide.
schäuble’s Wink with the fence post is to understand for all parties Involved to be clear: you’d better Hurry with an agreement. Because so short before the election, it could not be that the Union does to the Tort, to whip another, in the case of the German voting population rather unpopular programme for Greece through the Bundestag. Ergo: There would be no additional money for Greece. The country is slipping back into Bankruptcy, and possibly even out of the Euro. And in the face of global instability in the face of Brexit and the choice of Donald trump, nobody could want – neither the Fund, nor the Greeks.
The Scientific service of the Bundestag has destroyed this argument with a few words. “Both in the statement of the Euro group of 14. August 2015, as well as in the decision of the Bundestag of 19. August 2015 was decidedly a political anticipation with regard to the financial participation of the IMF in the current program," write the experts in its first opinion. “If this could be by way of a negative decision by the IMF not realize, would be free it is the Euro group and the German Bundestag, to respond accordingly.” It is free to the Bundestag, so that he is not forced.
Anyway, whether the IMF as an independent Institution, and in the absence of an appropriate agreement is not legally obliged to accompany the “Greece III”program with its own financial assistance. Of such a legal obligation, the Federal government had not been able to go out on a date.
In Greece is added to this statement with much interest. The radical left Syriza related newspaper “Efimeria ton Syntakton” reported about it already. Greek bloggers took up the theme. And the left party in Germany is calling on Schäuble now to the Action: “The IMF wants increases substantial Debt, and the IMF wants to policy, no more austerity,” said the financial expert Troost of the “world”. The have communicated to the Fund. “If the Federal government wants him to have, you need to worry.”
In reality, this is not to say that Schäuble adds well small. There were often Scientific opinion of the service that changed the assessment of the Federal government objected and yet to whose decisions there is nothing. In relation with the Greek government and the decision-makers in the IMF, but it would be for the Federal Minister of Finance is more difficult to justify his hard line.