Le Monde | • Updated | By
The representatives of Greece’s creditors (IMF, Central Bank European and European Commission) culminated on the evening of Tuesday, June 2, to a “draft” agreement that they will submit to the Greek government of Alexis Tsipras.
“The idea is to send proposals (…) and then lead, perhaps with a conference call with Athens “ indicated earlier a European source close to the negotiations.
The “draft” covers a list of reforms that Greece is supposed to get on track in order to obtain the release of loans still available (about 7.2 billion) in the second aid plan that was granted to the country in 2012
“It’s not an ultimatum to Athens -. we are discussing for weeks these reforms with Tsipras – but to put things in form, “ says a source close to the negotiations.
It was not immediately clear if the government of Alexis Tsipras, who announced Tuesday it had submitted its donors a reform project “global” and “realistic” , would accept the draft agreement developed by creditors.
During ‘ a visit Tuesday to the Greek Ministry of Education, Alexis Tsipras said that “ Greece has presented proposals.” “We made concessions, which is normal in a negotiation, but we presented a realistic plan for the country out of the crisis,” he said, adding that “The dilemma is now in a crisis realistic exit option, or a division of Europe” . For him it is now ” European leaders “ to decide.
Meeting Wednesday
” Euroworking group “meeting (technical) preparatory to a Eurogroup (policy), bringing together the directors of the phone Treasures of the 19 countries of the Eurozone, to be held Wednesday, June 3 This meeting was scheduled from late May.
If it flattens enough disputes, it could pave the way for the convening of an extraordinary Eurogroup on Greece by the end of . this week or early next week
Because this is only a green light from the 19 finance ministers of the euro area – including the Greek Yanis Varoufakis – which can definitely endorse an agreement between Athens and its creditors
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“Progress is being made, but it is really inadequate” , however, said Tuesday the president of the Eurogroup Jeroen Dijsselbloem, in an interview on Dutch television Private RTL 7
On Monday night, an emergency meeting was held in Berlin between the main protagonists of the Greek crisis. Mario Draghi for ECB, Christine Lagarde for the IMF, German Chancellor Angela Merkel, French President Francois Hollande and Jean-Claude Juncker for the European Commission.
Mr. Holland and M me Merkel absolutely want out quickly from the impasse in which the euro zone is located, while Greece is on the brink of default.
After talks intense that lasted two hours and a half, European leaders and the IMF wanted to give a decisive political impetus. Mr. Holland left first, around midnight. The other participants have slipped a half hour later.
It seems that this is Christine Lagarde, IMF Managing Director, who remained last in the office of M me Merkel, whose lights went out shortly before 1 hour
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In Athens in Meanwhile, Greek Prime Minister Alexis Tsipras had summoned his bodyguards at Maximos Palace, his residence. On alert, ready to receive a call from Berlin or even a compromise text.
In Paris, we hope to find an agreement before or around June 5 Like Berlin, who would not want that the Greek issue invade “his” G7 summit in Elmau from June 7 In fact, there is emergency. On 5 June, Greece must repay € 300 million to the IMF. Several sources close to the negotiations, Athens can get the money
Read also:. And if Greece did not reimburse the IMF?
But Greece is concerned that if it sends the check, with no assurance of an agreement with Brussels in stride, she can not make the following repayments to the Fund (€ 336 million on 12 June 16 560 336 and 19 June).
In addition, for loans still to pay (the 7.2 billion) may be, an agreement must Eurogroup (meeting of 19 finance ministers of the euro area), and then validated by some national parliaments. – whose Bundestag
“The sequence is tight, do not drag, political agreement must be reached in the coming days, “ emphasized a source close to the talks Tuesday
Read also:. At the G7 finance the Greek case holds many conversations
Do everything to prevent a “Grexit”
On the same line since the beginning of spring, the German Chancellor and French President euro want to preserve the accident area Greek (payment default) with incalculable consequences.
A whole bunch of analyzes, soundbites have flourished in recent months, suggesting that a “Grexit” a Greek exit from the area euro, would have limited consequences now, thanks to the firewalls in place since the financial storm the years 2008-2010 and the previous two Greek bailouts (2010 and 2012): the banking union, the European Stability Mechanism, etc.
But the French and German leaders, Mr Juncker and the Commission consider that a Grexit would set a catastrophic precedent, carrying a terrible blow to the integrity and the irreversibility of the euro area. And geopolitical consequences of “ostracism” of Greece would be formidable.
This is because the Brussels group has not managed to overcome its various, last weekend, the Chancellor and the French President took the lead politically these days.
On the other side of the Atlantic, the spokesman of the White House Josh Earnest again called Monday the parts “to reach an early agreement” . The United States still fear a destabilization of the world economy in case of exit of Greece from the euro area.
Still a lock on pensions
To clinch a deal, compromises are needed, in Athens, even if Tsipras, in an article in Monde.fr, Sunday, May 31, said he had already taken his share. As the creditors’ side.
According to our information, the IMF still hangs on a pension reform, he wanted more radical. In recent weeks, representatives demanded a further reduction of pensions paid to retirees.
The Tsipras government was willing to make concessions, but not on the level of pensions. A compromise would, however, about to be reached between the IMF and the Commission, which argues it for a more spread reform in time for Athens.
The level of the budget hole 2015 is also debate. Creditors estimate it at 3 billion euros and would provide for Athens 2 billion euros of new savings. The Greek government believes it has conceded enough by offering to collect nearly 1 billion more through a change in the VAT system
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Do not create an exception
The IMF is in a difficult situation. The fund does not particularly give the impression of creating an exception with Greece, to which he has already paid much (32 billion since 2010). In his “board”, many large emerging countries believe it has already been too accommodating with Athens.
However, neither Paris nor Brussels, nor especially Berlin are ready to sign an agreement with Athens without the IMF. The fund was the first to rush to the bedside of Greece, in 2010, when the country already was on the verge of collapse. Its operating rules, know-how on emergency aid, were missing at the time the Europeans, faced for the first time to the bankruptcy of one of their own.
In May 2010, as Nicolas Sarkozy, then French President, the German Finance Minister, Wolfgang Schäuble wanted to help Athens without recourse to the institution of Washington. “This is the Chancellor who imposed the IMF and she was right,” now recognizes Wolfgang Schäuble.
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