Greece and the euro partners are already negotiating a 15-hour commitment

 

Greece and the euro partners are already negotiating a 15-hour commitment

Brussels, Jul 13 (EFECOM) .- Greece and the other 18 euro partners are already negotiating a 15-hour commitment that will allow the parties to start negotiations for a third billion dollar rescue in favor of Athens.

The Heads of State and Government of the Eurozone, together with the presidents of the European Commission, Jean-Claude Juncker, and the European Council, Donald Tusk, have explored from Sunday at 14.30 GMT the way to reach an agreement acceptable to all.

“All the conditions are practically accepted by the Greek Government,” diplomatic sources said, in relation to the document agreed by the Eurozone’s economy and finance ministers (Eurogroup) during the weekend, and in which there were some fringes that are those who try to close the leaders.

That agreement could be reached in the coming hours and for him, Athens would accept some of the measures that he previously rejected, including some of approval and implementation as immediate as next Wednesday, to begin negotiating this third rescue, until 2018 and encrypted around to 86,000 million euros.

To achieve the complex agreement, the leaders have met with Greece and each other, in different formats, with several pauses to recap on the aspects in which it has been progressing.

Athens would now assume the participation of the International Monetary Fund (IMF), but not with a new loan, but with the support of experts, and would renounce reaching an agreement for a withdrawal, while the eurozone for its part eliminates any kind of reference to an exit of Greece from the euro, according to several sources consulted.

Greece still sees two issues to be resolved, the first of which is the aforementioned IMF participation in a new program starting in 2016, whose concession partners want to condition the institution’s financial participation, a “prerequisite” that Athens rejects, pointed sources of the Hellenic Executive.

The second is the creation of a trust fund to which Greek public assets would be transferred to privatize them and achieve up to 50,000 million euros in the long term to reduce Greek debt.

Greece rejects this idea driven by Germany, according to sources of the Hellenic Executive.

In addition, community sources indicated that the institutions that formed the troika believe that for these assets could not be achieved more than 7,000 million euros.

European and diplomatic sources confirmed that the heads of state and government of the euro area, meeting in Brussels since Sunday, finalize the details of a document by which Greece is committed to taking a series of measures until Wednesday and thus recover the trust of the partners.

If this parliamentary approval is fulfilled, the partners would be willing to give the necessary mandate to open negotiations for the granting of that third bailout.

The priority actions that Greece would have to carry out include five points, of which “four will be definitively voted for Wednesday, including adjustments in VAT, pensions and the independence of the Helena Elstat statistical office,” sources indicated. Community

The Greek Prime Minister, Alexis Tsipras, has indicated to his partners that he could not have any of the demands in time like the Civil Procedure Law list.

In addition to these points, the Eurozone demands Greece “additional commitments beyond, given that the situation has worsened”, with measures such as the revision of labor legislation, including the delicate collective dismissals.

For Tsipras it is key that this meeting ends with some kind of consensus that allows sending a signal to the European Central Bank (ECB), ahead of the meeting of its Board of Governors this Monday and to which the Bank of Greece has requested an increase of the roof of the liquidity lines that are the main source of power of the banking Helena, subjected to a corralito for two weeks.

According to the sources, the leaders are not going to ask the ECB for anything, given that the agency is independent, but other community sources indicated that the perspective of a program and the opening of negotiations, if “could have an effect” on the decision of Frankfurt.

“The ECB will have to judge according to how this goes, to what extent it has a capacity within its mandate to be able to widen a liquidity that is practically exhausted, not even 60 euros a day are guaranteed,” diplomatic sources said.

With regard to short-term financing, the possibility has been mentioned of taking advantage of the benefits of 8 online guaranteed installment loans for bad credit gadcapital.com.

The possibility of recourse to the remaining funding of the European Financial Stability Fund (EFSF), which had a capacity of up to 60,000 million euros and which has 13,000 million that can be activated by the decision of the Ministers of Economy and Finance, is not ruled out. of the EU by qualified majority.

The ministers celebrate their regular monthly appointment on the 14th, and a new Eurogroup also already planned, will start at 13.00 GMT.COM