Tonight Athens, the goal is the same: get the quick disbursement of € 7.2 billion long promised. Greece must honor on June 30 a refund of 1.5 billion euros to the IMF. Unless otherwise agreed, the country will end up in bankruptcy on July 1, with a Treasury unable to pay foreign creditors, civil servants and pensioners.
The possibility of a Greek exit from the eurozone, although this unprecedented process has nothing mechanical in the event of default, is now openly discussed. The acceleration of withdrawals of savers in recent days has heightened concerns for the Greek banking system, even if it is supported by emergency funding from the European Central Bank (ECB). Hence the urgency of the meeting today.
The blockages
After having lent 240 billion, creditors expect detailed reforms and measurability fiscal adjustment that would allow Greece to surpluses. But Greece remains intransigent on several issues, warned the Minister of State, Nikos Pappas, one of the leaders in the negotiations, in the journal Ethnos Sunday: “Recovery of labor law , no decrease in wages and pensions, comprehensive strategic plan on the debt problem. “
Back to the wall, Athens made on Sunday evening with new proposals to its creditors. No details were provided about the contents. But these are a good basis for making progress at the summit of the eurozone, “said the night of Sunday to Monday Martin Selmayr, the office of President of the Commission chief.
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