Thursday, August 13, 2015

Eurozone FinMin to meet Friday on Greece bailout deal

Finance ministers in euro zone countries will meet on Friday in Brussels to approve a bailout agreement between Greece and its international lenders, a spokesman for Eurogroup President Jeroen Dijsselbloem said on Wednesday.

"Extraordinary Eurogroup on Friday, Aug. 14 at 3 p.m. on Greece," Michel Reijns wrote on Twitter.

The Greek government sealed the country's third bailout deal in five years with its international creditors on Tuesday. The much-awaited 85-billion-euro worth (95 billion U.S. dollars) cash-for-reforms agreement finally came after numerous rounds of negotiations since late January this year.

Earlier on Wednesday, Greece's third bailout agreement was submitted to parliament for ratification in coming days in a new race against time to unlock the first tranche of international aid to meet a repayment deadline on Aug. 20.

The vote at the plenary was scheduled to take place on Thursday night, a few hours before a Eurogroup meeting on the deal Friday.

European partners, such as Germany and Finland, underlined earlier this week that more work remained to be done and that the achievement of the deal was not an end, but a new start of cooperation.

Germany's finance ministry said it was planning to raise questions about details of the draft bailout agreement between creditors and Greece at Friday's Eurogroup meeting.

The ministry said in a statement on Wednesday that the questions were "part of the review process which is not yet completed."

In addition, the new Greek bailout package still needs to get the green light from other European national parliaments in the coming days before the disbursement of any aid.

  Xinhua - china.org.cn
13/8/15
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2 comments:

  1. IMF presses Europe over Greek debt relief...

    The International Monetary Fund has pressed Europe to come forward with debt relief for Greece, saying it would only make a decision on providing further financing for Athens after steps are taken to make its debt burden more sustainable.

    "We look forward to working with the authorities to develop their (economic) program in more detail and for Greece's European partners to make decisions on debt relief that will allow Greece's debt to become sustainable," IMF Greece Mission Chief Delia Velculescu said in a statement.

    "The IMF ... will make an assessment of its participation in providing any additional financing to Greece once the steps on the authorities' program and debt relief have been taken," Ms Velculescu added.

    Meanwhile, Greek Prime Minister Alexis Tsipras's Syriza party looks set to split after the leader of its far-left faction called for a new movement to fight a bailout deal that lawmakers are due to vote on in the coming hours.

    Days after striking a deal with foreign creditors, Mr Tsipras is asking parliament to approve a bailout agreement that pledges tax hikes and spending cuts in exchange for €85bn in fresh loans. It will be Greece's third financial rescue programme agreed with creditors in five years.

    The vote will test the strength of a rebellion by anti-austerity Syriza lawmakers, which could raise pressure on Mr Tsipras to call snap elections as early as September..............Reuters...........http://www.rte.ie/news/world/2015/0813/721042-greece/
    14/8/15

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  2. Le FMI attend des "décisions" de l'Europe sur la dette grecque...

    (Belga) Le Fonds monétaire international (FMI) attend que les Européens prennent des "décisions" sur l'allègement de la dette grecque avant de décider de participer ou non au nouveau renflouement du pays, a indiqué l'institution jeudi.

    "Nous attendons de travailler avec les autorités (grecques) pour développer le programme (de réformes) plus en détail, et que les partenaires européens de la Grèce prennent des décisions sur l'allègement de la dette", a déclaré la chef de mission du Fonds à Athènes, Delia Velculescu, dans un communiqué. Cette déclaration intervient au moment où le Parlement grec doit approuver un accord sur un nouveau plan d'aide de 85 milliards d'euros, le troisième depuis 2010, en contrepartie de mesures d'économie drastiques. Le FMI, un des principaux créanciers du pays aux côtés des Européens, a pris part aux discussions avec Athènes mais avait déjà fait savoir que sa participation financière était notamment suspendue à un coup de pouce européen pour rendre la dette grecque "soutenable". De nombreux pays européens, Allemagne en tête, exigent la participation du FMI au plan d'aide mais se montrent extrêmement réticents à l'idée d'alléger la dette grecque, qui avoisine les 170% de sa richesse nationale. "Le FMI (...) étudiera l'octroi de financements supplémentaires à la Grèce une fois que les autorités auront pris des mesures sur le programme (de réformes, ndlr) et que des mesures d'allègement de dette auront été prises", a souligné Mme Velculescu. La responsable ne précise pas d'échéance précise mais indique que le Fonds prendra sa décision au moment de la "première évaluation" de l'économie grecque dans le cadre du futur plan d'aide européen. Les ministres des Finances de la zone euro se réuniront vendredi à Bruxelles pour se prononcer sur le nouveau plan d'aide à la Grèce, au sujet duquel l'Allemagne a déjà dit qu'elle avait des "questions". (Belga)
    www.rtl.be
    14/8/15

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