Back in Athens after a European marathon inconclusive, Greek leaders reiterated Friday, February 6 asked to relay a plan helps the country, sticking to their position before a week of high-risk meetings.
The posture of the government, and the passing time while appear crucial to meet debt maturities, prompted the rating agency Standard & amp; Poor’s to downgrade by one notch the rating of Greece Friday night, “B” to “B-”, threatening to go even further.
The government is seeking 1.9 billion euro to central banks in the euro zone, on the profits made by them on their holdings of Greek bonds and the extension of its debt capacity set by its creditors to 15 billion euros in 2015, Friday repeated a government source.
“Without Pressure and blackmail”
bridge financing should enable the “to negotiate without pressure and without resorting to blackmail,” the source said. The message is for Berlin, who plays the watch while Greece funding sources dry up, and all the supporters of a hard line in Europe. “We are not financing bridge,” he firmly told the boss of the Eurogroup Jeroen Dijsselbloem, according to Bloomberg.
However, Greece will play his all to the Eurogroup counting the 19 finance ministers of the euro area, Wednesday before a summit of Heads of State and Government of the European Union in Brussels
Athens maintains a major demand of the government Tsipras. s’ overcome the agreements since 2010 which impose an austerity program which humiliating in exchange for aid of over 200 billion euros.
Greece wants to start again on new bases, with lower debt via sophisticated and less budget constraints financial arrangements. It considers a relay plan would allow it to refine its demands and to develop an ambitious reform program, including tax.
Germany uncompromising
But for the Germany, Greece must stick to past commitments and timetable set, without even a temporary exception regime. The countdown is more committed than ever to Athens could be deprived February 28 of all international aid. Its funding is hanging by a safety net of the European Central Bank, the “ELA” mechanism.
The Eurogroup meeting on Greece “was expected and is welcome,” had indicated earlier sources close to the prime minister, Alexis Tsipras, returning from a marathon talks in Rome, Paris, Brussels, Frankfurt and Berlin honing his anti-austerity argument.
Alexis Tsipras combines her European campaign and domestic commitments, having obtained the support of thousands of protesters Thursday night in Athens. He must present his program to parliament Sunday followed by a scheduled confidence vote Tuesday
This should not facilitate European dialogue. More anti-austerity Syriza promises of his party exasperate the supporters of rigor Europe, whether to raise the minimum wage, rehire staff or stop privatization.
Arm Wrestling started with the EU
Given Athens, the camp of fiscal discipline is organized, but also with Berlin Lisbon Madrid, just weaned from European aid. Italy and France have adopted a more conciliatory line, but refuse a Greek debt relief does not penalize their taxpayers. Trying to still give some leeway to Greece, the Italian Minister of Economy Pier Carlo Padoan said that the Eurogroup “was not a place of conflict between a team and another, but of a constant search for shared solutions. “
The United States have them, found via their ambassador in Greece David Pearce” very important that the Greek government is working with its European colleagues, with the IMF ” .
The extraordinary meeting of the Eurogroup Wednesday will be preceded by a meeting of G20 finance ministers Monday and Tuesday in Istanbul. “Greece of course not on the formal agenda, but you can probably expect to play a role in bilateral meetings” on the sidelines of the summit, said spokesman for the German Finance Ministry .
In an alarmist note the Capital Economics analysts have ruled Friday that Greece has “never been so close to an exit from the euro.”
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