Tuesday, May 5, 2015

Greece blows hot and cold – Reuters


       

Lefteris Papadimas and Jan Strupczewski


       

ATHENS / BRUSSELS (Reuters) – Greece has alternated optimism and warnings Tuesday against his interlocutors of the eurozone and the International Monetary Fund (IMF), which it tries to obtain new financing to avoid a default on its debt.


       

His finance minister Yanis Varoufakis, came to Paris and Brussels, said to expect that the Eurogroup, which will meet next Monday to take note of further progress towards a compromise, which would open the way for payment of financial assistance.


       

“We certainly have a very fruitful discussion on May 11, confirming the great progress we have made and will mark a new step, a new step in the direction of a definitive agreement,” he said reporters after a meeting with European Commissioner for Economic and Monetary Affairs Pierre Moscovici.


       

The latter, however, stressed that the euro area will discuss a long-term financing once an agreement on a detailed plan of reforms in Greece.


       

“This topic can not be discussed once we will have agreed on a reform program which I hope will be consistent, comprehensive, complete and will allow the Greek economy to straighten, “he he said.


       

His words seem to close the door on the Greek hopes of jump step of an interim agreement on the reforms in favor of a global negotiation on a new debt relief.


       

Political uncertainty has also led the European Commission to fivefold its economic growth forecast for this year, only 0.5% against 2.5% expected there are still three months.


       

These new and a Financial Times article – denied by Berlin – that the IMF has threatened to cut funding to Athens in the absence of a debt restructuring, contributed to a marked decline in Athens Stock Exchange, which lost 3.85% on the day, and other European markets. More …

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