Friday, March 20, 2015

A first EU financial gesture to Athens, which promises the … – The Obs

Brussels (AFP) – The government of Alexis Tsipras and its European partners exchanged Friday goodwill gestures to respond to the financial emergency of Greece, who will receive an allocation of structural funds and s’ committed to accelerate reforms.

Greek Prime Minister had to engage in the night to realize more quickly its promises of reform, with the highest European leaders he met at his request on the sidelines the Brussels summit.

A few hours later, the European Commission announced making available of Greece “two billion euros for 2015″ from unused EU funds and for support growth and fight against unemployment.

The money thus will not relieve the liquidity needs of the country but will be allocated to social policies, the Commission President Jean-Claude Juncker taking even her account the term fight against “humanitarian crisis” important part of the rhetoric of the Greek radical left.

The release of EU aid necessary for the Greek government to stay afloat remain vested Finance Ministers of the euro area -Eurogroupe- but Alexis Tsipras estimated Friday that his nocturnal rendezvous with key European leaders, including French President Francois Hollande and German Chancellor Angela Merkel, had made a difference.

A new reform package will be presented “after consultation with the Brussels group”, said Prime Minister at a press conference, seeming to want to give pledges of cooperation. The Brussels Group replaced the unloved Troika as an instance of technical negotiations between Athens and its creditors.

Even conciliatory tone toward the Greek Ministry of Economy where it considers “constructive” the prepared by experts from Brussels “with a detailed list of data requests (…) and elements of the reforms” which will be answered “in a constructive spirit.”

The return to Athens last week, the technical teams of EU and IMF creditors had negotiated in pain and the first mission of “data collection” does not seem to have brought the expected results.

– New Eurogroup –

The radical left government has already presented in recent weeks several lists of reforms, the fight against tax evasion and the reform of the administration in particular, is now expected to of “measurable” elements, according to a European source told AFP.

The spokesman of the Greek Government referred to the presentation of a “calendar” for implementation and concrete data “in week. “

Alexis Tsipras estimated Friday that convinced its partners on one point:” no new austerity measures, “said he has particular reference to those required of the previous government.

For the rest, “we have not resolved all differences,” he acknowledged. And the payment of the last tranche of the plan of some 240 billion euros which Greece has since 2010, a little over $ 7 billion, is not granted. Athens wants to include the ECB quickly disburse 1.9 billion euros corresponding to interest on bonds.

This issue could be discussed at a meeting of the eurogroup, perhaps as early as Friday Next, according to a European source.

Athens “probably needs a fresh infusion of cash from 2-3 billion euros”, analysts of Berenberg bank, even if the Prime Minister said Friday that there is liquidity problem had “short term”.

Loans, treasury bills and interest combined, are 15.5 billion euros, which should be removed from coffers by August, said the Greek debt agency (PDMA) in parliament.

On Friday, Greece repaid to various creditors some 2.5 billion euros, of which 348.5 million to the IMF, according to a source close to the deal.

The Parliament must vote on the evening of the second law of his term, on a spreading plane back taxes and contributions (over 76 billion), hoping to recover the money.

On Thursday, the German foundation Hans Böckler near the DGB trade union confederation, presented a study on the changes in income in Greece from 2008 to 2013, which fell by 23% on average, but 86% for the 10% of the poorest households.

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