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Greece’s Political Leaders Agreed On Full Austerity Deal (incl. also the €300-million Cuts)
Posted by keeptalkinggreece in Economy, Politics
Under the heavy pressure from Brussels and Berlin, Greek coalition coalition government partners agreed on the full austerity package, including cuts worth €300 million. The agreement was reached after intense negotiations with PM Lucas Papademos that took place over the phone, To Vima and Proto Thema reported.
Shortly after 4 pm, the office of the Prime Minister issued a statement saying, that ”the political leaders agreed on the results of the negotiations between Greece and the Troika.”
This morning the Eurogroup has signaled that there would be no agreement today on the 2nd bailout for Greece, after the three coalition partners had failed to give their consent to all demands of the Troika. The Eurogroup meeting is scheduled to take place at 8 pm Belgium time.
The accompaning austerity programme worth 3.3 billion euro is one of the many preconditions for Greece to be given a second bailout of estimated 130 billion euro.
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Phew. Merkel and Sarko will be sighing with relief for their banks. Why not cut out the middleman (Greece) and pay the money directly to them?
because they will have no wins through the interest rates.
Isn’t that what they want with that account for Greece’s interest payments?
But before SM are sighing to deep, let’s first wait what the Greek parliamentarians will do. Just read that one of the junior ministers already resigned.
Eurozone ministers have cast doubt over a new Greek austerity plan, as they meet in Brussels
“German Finance Minister Wolfgang Schaeuble said the Greek plan was “not at a stage where it can be signed off”.
“Luxembourg’s Prime Minister Jean-Claude Juncker, head of the so-called eurogroup of finance ministers, said he doubted whether the Greek plan was ready for approval.”
“Neither Mr Juncker nor Mr Schaeuble detailed their doubts about the plan.
But IMF officials had earlier hinted that it lacked any proposals for major institutional reform.
They were also seeking assurances that the agreed measures would not be affected by elections due in April.”
http://www.bbc.co.uk/news/world-europe-16971733
“But IMF officials had earlier hinted that it lacked any proposals for major institutional reform” What? the IMF criticized itsself? they forgot to criticize the lack of any proposals for development and growth as well.
Elections? of course not! …in April but May 1
very good summary, thank you Viator
“two out of the three”? Is there a holdout?
sorry was my mistake – as the post/news change while I was writing. I’ll correct it. thanks for mentioninig