Friday, March 20, 2015

Greece: the European mini-summit he moves the lines? – The World

Le Monde | • Updated | By

What should be learned from the “mini-summit” of the euro area on Greece, which was held Thursday, March 19 in the evening, on the sidelines of a European Council in Brussels?

appointment by the select committee and nearly three hours, gathering French President Francois Hollande, German Chancellor Angela Merkel the president of the Eurogroup, Jeroen Dijsselbloem, the European Central Bank (ECB), Mario Draghi, the European Commission, Jean-Claude Juncker, and Greek Prime Minister Alexis Tsipras.

Is it likely to “move” positions – those of the Greek government, its creditors, the countries of the euro area – which, since the meeting of the Eurogroup (the finance ministers of the 19 countries of the euro area ) February 20, had not really changed?

  • What are the commitments made at the end of the meeting?

The interlocutors Mr. Tsipras reiterated that he had to respect the agreement reached at the Eurogroup of 20 February. And there was an emergency. “We have an agreement that must comply with the terms” , repeated in unison, Merkel and Holland.

Specifically, Athens must encrypt the state Greek Finance and enter into negotiations on a credible list of reforms. Do not take measures that cost money to the state without prior discussion with its creditors, unlike what has happened with the “humanitarian measures” adopted Wednesday, March 18.

Loan Tranche remaining to pay under the second aid plan (about 7.2 billion euros) will be paid once completed this year.

“Too much time has been lost,” has pointed Holland at the end of the mini-summit. In late February, the Europeans had agreed on a first date with Athens late April to verify the status of the agreement of 20 February.

But on the field, team of technicians representing creditors (ECB, Commission, International Monetary Fund) and responsible for negotiating reforms has yet to really start working

Read also:. The return of the “men in black” in Athens

Presents in Athens on March 12, it would not work in good conditions. Teams, isolated from a hotel in the city, can not move in the ministries, according to several European sources.

Mario Draghi, the ECB president, made much of these logistical problems Thursday night according to a source close to the talks.

  • What is known about the state of Greek finances?

Thursday evening The Greek Prime Minister assured his colleagues around the table that his country would run out of cash in early April.

It was also learned, according to financial sources, that on the one day Wednesday 300 million euros had been withdrawn from accounts in Greek banks, increasing the fragility of recent

Read also:. The Greek parliament created a commission to audit the debt

To avoid a crash (panic investors, capital controls …), European leaders, who fear a partial default of the country in the days or weeks, pledged to “accelerate Calendar “.

The Eurogroup ” stands ready to meet as soon as possible, “ is indicated in the conclusions of the meeting. If the financial emergency materializes, this body will assess, in the light of progress Greek side, if there is or not to grant the country a prepayment. History to avoid the worst. Maybe by the end of next week, if we are to believe the alarmist Mr. Tsipras.

  • Mr. Tsipras he has been receptive to European message?

It’s been over a week this message of firmness and urgency is addressed, in a loop, the Greek government – in Berlin, Brussels and elsewhere in Europe. This mini-summit on Thursday night so did not really bring change “tone”.

However, this was an appointment “political” high level. Furthermore asked by Mr. Tsipras himself.

This mini-summit may allow it to better “sell” the need for reform and a right of Europeans to the wing more radical of his party, Syriza.

Mr. Tsipras also obtained Thursday night reinsurance policy on the fact that the reforms will certainly be traded with the Europeans, but not imposed from Brussels.

This is an essential point for Athens which accuses the former “troika” of creditors (now “Brussels Group”) have, for four years, violated the country’s sovereignty and dictated austerity measures too costly socially.

Read also: More Greeks are poor, their incomes have shrunk over the crisis

The narrow format “mini-summit” allowed senior leaders, in which M . Tsipras a priori confidence, to say nasty things.

For the Europeans, the “G7″ of the eurozone would also help to lower the pressure, which had risen in recent days, especially between Germany and Greece (war reparations claims side Athens, Greek Finance Minister Yanis Varoufakis ridiculed by the German media). To the point that scenarios Grexit beginning to turn and space for compromise narrowed

Read also:. Europe is concerned about a “Grexit” by accident

appointment Monday, March 23 between Mr. Tsipras and Merkel at the invitation of the latter, in Berlin, is expected to continue this work to “de-escalation”.

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