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This article was published on July 8, 2015 at 7:33.
The last change is the July 8, 2015 at 08:07.
The European partners of Greece said they were ready yesterday to assess the new request for aid that Mediterranean country must submit by tomorrow. Yesterday, here in Brussels marked by a succession of leaders, has been used by countries in the euro zone to issue an ultimatum and keep up the pressure on the government Tsipras. With what result? Despite the risks of Grexit have led governments to seek a last-minute agreement, the game remains uncertain.
“We have five days to find an agreement,” said European Council President Donald Tusk, urging Athens to present “credible reforms” to get an aid package. Based on these proposals, creditors will ask the Community institutions to make a risk assessment.
Only after the countries will decide on a new summit Sunday whether to open formal negotiations. If unsuccessful, the scene of Grexit could then take over. The road in the coming days appears marked after yesterday there were two summit meetings, organized hastily in the wake of the referendum Sunday on which the Greeks have soundly rejected the proposed agreement presented by international creditors. In the afternoon, there was a meeting of the Eurogroup, the eighth in just over 14 days dedicated to the Greek crisis, during which the ministers have met the new colleague greek, Euclid Tsakalotos.
After ‘Eurogroup was held a meeting of euro zone leaders. In a statement they stressed the desire of Athens to restore its economy and the willingness of creditors to consider new aid. At the same time, they have announced a European Council for Sunday. While awaiting the new Greek proposals, and in an attempt to keep up the pressure, Jean-Claude Juncker, President of the European Commission warned to have ready in case of failure, “a detailed plan for a Grexit.”
The meeting on Sunday will have to serve at the highest levels to decide whether to continue the negotiations in view of a third program, on the basis of the great lines by then already prepared by the government greek and of credit institutions. The track of deadlines and appointments hope that an agreement is possible, especially as only yesterday from Washington US President Barack Obama has urged European partners to find an agreement that “it is in their common interest.”
That said, at a press conference later in the evening, Chancellor Angela Merkel seemed particularly combative and demanding. If a country has said asking a third aid program should be ready to introduce the necessary reforms. “As a representative of the German government have to touch the reforms needed to make debt sustainable – he added.
The task is now more difficult than 10 days ago due to the deterioration of the Greek economy.” According to diplomatic reports, many leaders in the conversation last night expressed frustration at the pace of negotiations and nuisance to the government’s choice Tsipras to hold a referendum in negotiations still ongoing. The time is very tight, as noted by Ms. Merkel: “A matter of days, not weeks.” A final agreement is to be found by 20 July when Greece has to repay 3.5 billion euro to the European Central Bank.
The road is impassable because some governments need a parliamentary mandate to negotiate, such as Germany. Other then must submit any third financial aid package in its Parliament. Failures can not be excluded. At stake is a program two or three years, which may not contain a debt restructuring, too controversial, but only a debt relief greek. The situation is delicate. Justifying the decision to reduce support for Greek banks, the ECB yesterday, warned in Athens, noting that “the aim of the emergency liquidity (Ela) is to support solvent banks that are facing temporary liquidity problems.” Mrs. Merkel said, however, that the ECB is still ready to help banks until Sunday. On this front, the premier leader Alexis Tsipras has again requested a prestitoponte a month, so far without success.
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