terça-feira, 14 de julho de 2015

Duties of Greece for the 3° rescue

The financial aid to Greece will be 86 billion euros of European stability mechanism, and from March 2016, the IMF also.

Tsipras accepted the condition of Germany to create a Fund for privatization. Angela Merkel, however, resigned to it being created in Luxembourg, as originally required. The Fund will be in Greece, managed by the Greek authorities under the supervision of the European institutions.

The Fund must reach the 50 billion euros with the sale of property of the Greek State: 25 billion will be earmarked for recapitalization of Greek banks, the other half, 25 billion will be allocated to 50% by paying the debt and to invest in the Greek economy.

The European Commission will still work with the Greek Government to help kick-start growth and create employment, resuming the position of Jean-Claude Juncker,

35 billion euros from the European funds will be invested in Greece.

Before starting negotiations on the rescue plan, the Greek Parliament has to pronounce on six measures, of which four must be decided until next Wednesday, in particular on the automatic cuts the costs, in case of deviations from the goals of the deficit; the simplification of tranches of VAT and its extension to increase the surveys; and measures for the reform of the pension system, to make it viable.

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