quarta-feira, 18 de fevereiro de 2015

Arm wrestle between Greece and Eurogroup taken to limit

The Government's rejection of Athens of the proposal made by the Eurogroup, this Monday, has had negative impact on the stock market, but hasn't discouraged Greek citizens.

"We should support the Government, is working very well. We have nothing more to lose. We have to regain our dignity and the Government will find a solution, "said one.

"Everything is open, but they won't allow that Greece has to return to Russia or China. Will take a step back, "said another.

"It has been proved that the European Union does not change. Is hostile towards the citizens. Workers have to go to the streets and demand their rights ", considered a third.

The railway arm is the model to honor the rescue of the troika.

Athens wants a new temporary loan with other conditions.

Already the Eurogroup proposes to prolong the current package, which ends on February 28.

Of Greek nationality and member of Syriza, one of the Vice-Presidents of the European Parliament, Dimitrios Papadimoulis, says that "the Greek Government does not blackmail anybody."

"We are looking for a good solution for Greece, but also for the entire euro zone. We do not accept blackmail, but that make us, "added the MEP.

Despite the shadow of bankruptcy, the Greek Government has stressed that there will be no financing problems of national banking because obtained this guarantee from the European Central Bank.

A matter of semantics and details

Gregory Claeys/Economist at Bruegel (GC/economist): "one can get the impression that the Greek Government is a little inexperienced, but the truth is that he was elected with a clear mandate to end the troika program. Soon, their demands are clear and, to some extent, justified. It is true that the Eurogroup and the remaining European partners of Greece implemented from 2010, a policy that was, in fact, quite counterproductive, since it underestimated the negative impact of austerity ".

GC/Economist: "is it true that you might think they overdid it a bit, giving the impression of total confrontation, of a negative climate. But, if you look at the details of what you're discussing in concrete, it's almost like they're pretty close. "

GC/Economist: "one of the parties wants a temporary loan, the other half wants to extend the current program. At the end of the day it's not so different, but the Greek rulers cannot return to the country and say to his constituents who accepted a program that is despised in Greece! It is, above all, a problem of semantics ".

GC/Economist: "next month, Greece will have to pay part of the loans, for which there is a serious problem of calendar. However, the last few years have shown that always obtained a commitment, even if it was at the last minute ".

GC/Economist: "I think we should reach an agreement on several points. First of all, you won't be forgiven the debt. Second, establish that the reforms should focus on the fight against corruption and tax evasion. I think this point has never been a priority for the previous Governments, but is for the Syriza. You should bet on it because it's something very important. And, thirdly, there are the terms of payment of the debt. I think it is possible to extend a little maturity and reduce the interest rate to be less painful in the short term for Greece ".

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