The finance ministers of the euro area have called a special meeting to hear their Greek counterpart.
The Americans, at least the thrill seekers speak of the “game Sissy” two cars darker towards each other and the first that gives swerved to avoid the head-on collision has lost. Everyone is master of his destiny, unlike Russian roulette. But this may end as badly.
For the brink of bankruptcy, Greece and its new driver, Alexis Tsipras, embarked on a collision course with Europe. The attachment can occur this Wednesday evening at a meeting of emergency finance ministers of the eurozone (Eurogroup). For maximum effect, it can wait until Thursday and the European summit. A second Eurogroup on Monday, will serve as a safety net. In any case, the shock or evasion must take place before February 28 at midnight, at which time the EU will have the right to cut funding to the Treasury of Athens.
Impatience up
The dramaturgy is as important as substance in these tense times. The other euro countries, starting with Germany, want to limit the debate within the existing rules of economic discipline: no credit extension without that Greece complies with the terms of its creditors. “We are not negotiating a new program” with Greece, insisted Tuesday the great German financier Wolfgang Schäuble. These are the creditors by the convening of an extraordinary Wednesday Eurogroup, with the tenuous hope to clear the appointment of heads.
The protest Alexis Tsipras intends instead carry the battle on the political terrain. That is to say, at the top, facing Angela Merkel, imperial incarnation of austerity in the eyes of many Greeks. In the closed session, it is not sure he will succeed. The “big” want to talk about Russia, Ukraine and the fight against terrorism. “Greece is not on the agenda of the summit, loose snapped an organizer. If I was adviser to Mr. Tsipras, I would recommend him the greatest sensitivity. “
Bridge loan until the summer
In public, the Prime Minister’s firmness remains intact. He refuses block a bailout with its counterparties, fiscal restraint and the presence in Athens of the troika of creditors. Impatience, however, is more apparent every day. Time passes, the money will be missed. From a rowdy debate on debt cancellation, the Minister of Finance, Yanis Varoufakis, passed a few days at the insistence search very short-term financing. “What Greece wants now is a bridge loan until the summer, but we do not let go unconditionally” insists Brussels representative of a large creditor countries. To avoid shock, which could be very heavy financial consequences for Greece, which will give the first swerve?
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