Greek FinMin: “Greece has achieved program extension” tagged:

Greek FinMin: “Greece has achieved program extension”

Posted by in Uncategorized

Greek Finance Minister Yiannis Stournaras knows certainly more than the others. Despite denies by the European Commission and the German government, Stournaras told the Greek Parliament on Wednesday that “Greece has achieved an extension to meet the terms of its the it international bailout program.”

Did the Troika assured him last night of an extension, while on teleconference? And thus before the Troika report was ‘blessed’ by the Eurogroup and Germany? Nobody knows… Unless it’s a trick to persuade Samaras’ coalition government partners to approve the whole austerity package including the painful “Labour Reforms”.

Speaking in Parliament Wednesday, Stournaras said that Greece now had an extension to reform its finances, without specifying its length.

Without the extension, he said, the country would have had to impose measures of €18.5 billion instead of €13.5 billion.

Earlier in the day, the European Commission and the German government denied a newspaper report that Greece’s lenders have agreed to extend the time Athens has to complete its fiscal adjustment by two years.

“I am not in a position to confirm anything in the report,» said Simon O’Connor, a spokesman for Economic and Monetary Affairs Commissioner Olli Rehn, on Wednesday. «There is no agreement yet.»

The daily Sueddeutsche Zeitung said Wednesday, in a report that mentioned a draft memorandum but cited no named sources, that Athens’ economic program will be extended until 2016 but it’s unclear how Greece would be financed beyond 2014.

Top European Central Bank official Joerg Asmussen told Germany’s ARD television that theres still no final agreement between the debt inspectors and Greece.” (ekathimerini)