Griekenland wil EU-hulp niet meer #2

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Greece only has a few days to either agree to an extended EU bailout, or walk away from its European partners and seek other assistance, possibly Russia or China, or other BRICS countries.

Talks between the EU and Greece continue to fall flat. On Monday Greece rejected an EU draft plan to extend the country’s current bailout conditions for six months before returning to the negotiating table. The Greek delegation dismissed the plan as “absurd” and “unreasonable.”

Finance ministers from the eurozone will meet with Greek counterpart Yanis Varoufakis on Friday February 20 to either extend the current bailout program or sign a new deal. If no progress is made, Greece could be forced to leave the euro currency.

The EU is nervous about Greece looking elsewhere to get a better deal, according to former British diplomat William Mallinson.

“They fear above all Greece getting closer to Russia, as it ought to historically in any case. Because at the end of the day, they know very well that it is possible to have a BRICS loan with perhaps Russian-Chinese help, with far lower interest rates,” Mallinson told RT.

Greece’s Prime Minister Alexis Tsipras has been invited to China by Chinese Prime Minister Li Keqiang for a state visit.
Both Russia’s finance and foreign ministries have said Moscow hasn’t ruled out providing Athens with funds. However, the fiscally-fragile country has not asked Russia for a loan.

A move towards China or Russia would deepen the divide between Athens and the rest of the EU, says Mallinson, and any EU country that comes to Greece’s rescue could also be economically isolated.

“Or who knows, even a compromise with Russian help and some individual European countries,” he suggests.

However, the cost of borrowing for Greece continues to rise as government debt continues to devalue. Greek banks are very dependent on help from the European Central Bank.

As long as Greece remains at the negotiating table the ECB is providing emergency funding to banks worth ¤65 billion, but unless a compromise can be found, Greece will lose the emergency assistance at the end of the month.

Greece has debt of more than ¤317 billion, and borrowed ¤240 billion from the Troika of lenders- the European Commission, the European Central Bank, and the International Monetary Fund.

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Op dinsdag 17 februari 2015 10:41 schreef Papierversnipperaar het volgende:

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Dus de banken en Noord-Europa hebben Griekenland niet gered, maar zichzelf. En De Griekse burger mag de rekening betalen.

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Op dinsdag 17 februari 2015 17:45 schreef L3gend het volgende:
Kan iemand vertellen wat de consequenties zijn als Griekenland en de EU er niet uitkomen? Griekenland schijnt toch een primair overschot te hebben, en kunnen ze dan niet zeggen dat ze geen rente en hun schuld niet meer aflossen? En bovendien toch in de euro proberen te blijven, want ze kunnen formeel niet eruit gestuurd worden

Of gaan de Griekse banken in de problemen komen door de ECB?

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Op dinsdag 17 februari 2015 17:45 schreef L3gend het volgende:
Kan iemand vertellen wat de consequenties zijn als Griekenland en de EU er niet uitkomen? Griekenland schijnt toch een primair overschot te hebben, en kunnen ze dan niet zeggen dat ze geen rente en hun schuld niet meer aflossen? En bovendien toch in de euro proberen te blijven, want ze kunnen formeel niet eruit gestuurd worden

Of gaan de Griekse banken in de problemen komen door de ECB?

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Op dinsdag 17 februari 2015 17:45 schreef L3gend het volgende:
Kan iemand vertellen wat de consequenties zijn als Griekenland en de EU er niet uitkomen? Griekenland schijnt toch een primair overschot te hebben, en kunnen ze dan niet zeggen dat ze geen rente en hun schuld niet meer aflossen? En bovendien toch in de euro proberen te blijven, want ze kunnen formeel niet eruit gestuurd worden

Of gaan de Griekse banken in de problemen komen door de ECB?

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Greece says reaches draft accord with euro zone creditors on loan

(Reuters) - Euro zone finance ministers drafted an outline agreement on Friday that could form the basis for extending Greece's financial rescue package, officials on both sides said.

However they stressed there was no formal deal on a common text in the full 19-nation Eurogroup of ministers.

European Union paymaster Germany, Greece's biggest creditor, had demanded "significant improvements" in reform commitments by the new leftist government in Athens before it would accept a six-month extension of euro zone funding.

"There is an initial agreement on a joint draft text among the institutional partners, which is now being presented to all of the ministers," a Greek government official said following preparatory talks involving the Greek and German ministers, as well as the managing director of the IMF.

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Op vrijdag 20 februari 2015 20:08 schreef b4kl4p het volgende:
Waarom zijn we toch zo masochistisch met elkaar, weer een extra bak erheen zodat ze ons straks weer in de bek kunnen schijten.

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Op vrijdag 20 februari 2015 20:10 schreef crystal_meth het volgende:

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het geld kom meteen weer terug want wordt gebruikt om leningen af te betalen.

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The Eurogroup reiterates its appreciation for the remarkable adjustment efforts undertaken by Greece and the Greek people over the last years. During the last few weeks, we have, together with the institutions, engaged in an intensive and constructive dialogue with the new Greek authorities and reached common ground today.

The Eurogroup notes, in the framework of the existing arrangement, the request from the Greek authorities for an extension of the Master Financial Assistance Facility Agreement (MFFA), which is underpinned by a set of commitments. The purpose of the extension is the successful completion of the review on the basis of the conditions in the current arrangement, making best use of the given flexibility which will be considered jointly with the Greek authorities and the institutions. This extension would also bridge the time for discussions on a possible follow-up arrangement between the Eurogroup, the institutions and Greece.

The Greek authorities will present a first list of reform measures, based on the current arrangement, by the end of Monday February 23. The institutions will provide a first view whether this is sufficiently comprehensive to be a valid starting point for a successful conclusion of the review. This list will be further specified and then agreed with the institutions by the end of April.

Only approval of the conclusion of the review of the extended arrangement by the institutions in turn will allow for any disbursement of the outstanding tranche of the current EFSF programme and the transfer of the 2014 SMP profits. Both are again subject to approval by the Eurogroup.

In view of the assessment of the institutions the Eurogroup agrees that the funds, so far available in the HFSF buffer, should be held by the EFSF, free of third party rights for the duration of the MFFA extension. The funds continue to be available for the duration of the MFFA extension and can only be used for bank recapitalisation and resolution costs. They will only be released on request by the ECB/SSM.

In this light, we welcome the commitment by the Greek authorities to work in close agreement with European and international institutions and partners. Against this background we recall the independence of the European Central Bank. We also agreed that the IMF would continue to play its role.

The Greek authorities have expressed their strong commitment to a broader and deeper structural reform process aimed at durably improving growth and employment prospects, ensuring stability and resilience of the financial sector and enhancing social fairness. The authorities commit to implementing long overdue reforms to tackle corruption and tax evasion, and improving the efficiency of the public sector. In this context, the Greek authorities undertake to make best use of the continued provision of technical assistance.

The Greek authorities reiterate their unequivocal commitment to honour their financial obligations to all their creditors fully and timely.

The Greek authorities have also committed to ensure the appropriate primary fiscal surpluses or financing proceeds required to guarantee debt sustainability in line with the November 2012 Eurogroup statement. The institutions will, for the 2015 primary surplus target, take the economic circumstances in 2015 into account.

In light of these commitments, we welcome that in a number of areas the Greek policy priorities can contribute to a strengthening and better implementation of the current arrangement. The Greek authorities commit to refrain from any rollback of measures and unilateral changes to the policies and structural reforms that would negatively impact fiscal targets, economic recovery or financial stability, as assessed by the institutions.

On the basis of the request, the commitments by the Greek authorities, the advice of the institutions, and today's agreement, we will launch the national procedures with a view to reaching a final decision on the extension of the current EFSF Master Financial Assistance Facility Agreement for up to four months by the EFSF Board of Directors. We also invite the institutions and the Greek authorities to resume immediately the work that would allow the successful conclusion of the review.

We remain committed to provide adequate support to Greece until it has regained full market access as long as it honours its commitments within the agreed framework.

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Op vrijdag 20 februari 2015 19:23 schreef Bram_van_Loon het volgende:

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Onder een voldoende hoge druk wordt alles vloeibaar

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Op dinsdag 17 februari 2015 15:17 schreef Revolution-NL het volgende:
Ik zie een meesterzet aankomen van Poetin.
Wat een eindbaas..

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Op zaterdag 21 februari 2015 00:08 schreef Nintex het volgende:
Juich niet te vroeg, de Grieken moeten maandag nog een lijst aanleveren met de hervormingen die ze willen gaan doorvoeren. Ik denk dat het spelletje nog niet voorbij is.

De Grieken willen eigenlijk het liefst failliet gaan dan zijn ze van de schuldenberg af. De EU wil eigenlijk het liefst die lastige grieken uit de Euro zetten, want dan is het weer een stabiele munt.

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Op vrijdag 20 februari 2015 23:27 schreef El_Matador het volgende:

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Dat hangt maar net van de temperatuur af.