The Eurogroup in Greek impasse – BBC

The Eurogroup in Greek impasse – BBC

After a meeting of finance ministers of the euro area, in the presence of the IMF and the ECB, Eighteen failed to reach an agreement on Greek debt, even a joint statement. An almost unprecedented outcome.

Yanis Varoufakis, the pugnacious bald Minister who wowed the crowd of Athens, entered the lion’s den at Brussels. And as expected, from Germany to the ECB, through the IMF and the European rescue fund, the Eurogroup of the big cats were not allowed to tender: face-to-face, rather heavy, s’ ended after six hours without another promise that a second appointment Monday in the same arena.

The Minister of Finance of Greece arrived armed with all his distrust. “We are not seeking confrontation and will do whatever it takes to avoid it, he warned from the benches of parliament in Athens. But exclude the impact in advance would show that we do not have the faith to negotiate hard. ” This is Alexis Tsipras himself just confirmed by a vote of confidence, which established the mandate of the rostrum neither backward nor European credits at the price of what he called the “cruel” austerity. Before adding, to applause: “‘We never discuss the extension of the European rescue plan because it has already failed” during the last five years

This is lean. , negative, and not conducive to negotiation. In Brussels, the Minister Varoufakis held strictly to this line. And he was unable to get along with his eighteen colleagues of the euro on writing, even a joint statement, an almost unprecedented outcome. Several drafts were circulated. But lack of agreement on the words, the head of the Eurogroup Jeroen Dijsselbloem preferred to throw in the towel. The idea of ​​a work of experts to prepare the closed session Monday was not successful either. The final press conference, announced shortly after 23 hours, started much later than midnight. It lasted just 10 minutes

This stalemate at the first turn could propel the Greek dilemma to the next level. EU summit which opens this afternoon in Brussels, attended for the first When Alexis Tsipras. Other European leaders however have no desire to turn into a negotiating session conclave already dominated by the Ukrainian crisis and the fight against terrorism.

More likely, the back one step closer to Greece and the new government of a payment default, lack of the required funding from the EU and IMF. The second bailout, signed in May 2012, will expire on February 28 at midnight unless extended, even a few months, with the necessary support of a plan of reforms and budgetary control. Assuming that Athens it resolves, the decision should be taken no later than next week to get the necessary approval from each of the eighteen other countries, notably the Bundestag in Germany.

On Wednesday evening, the finance ministers of the euro waiting for Greece at least it submit their new ideas to advance. “The starting point is the continuation of the current bailout. And it is on this basis that we will see if it is possible or not to continue our support “financial, Jeroen Dijsselbloem warned. Alas, according to several participants, Yanis Varoufakis arrived empty handed, clinging to refuse without any concrete proposals that would have to initiate the discussion. “There is no agreement on the subject, we need a little more time,” admitted the night the head of the Eurogroup, rather tense. Pierre Moscovici, the Commissioner responsible, the exchange has at least allowed to “clarify the position” of each.