A hectic weekend and an open hotline between Athens and Brussels for consultations, as the Greek team prepares the list of planned structural reforms to the country’s lenders. The deadline decided by the Eurogroup on February 20th, expires Monday midnight. A teleconference will follow, with Finance Minister Yanis Varoufakis on one side and Christine Lagarde (IMF), Mario Draghi (ECB) and Pierre Moscovici (EU Commissioner for Monetary Affairs.) on the other. The Eurogroupp is not involved at this stage. Depending on the time Greece will be ready to send its proposals, the teleconference with the three may be take place on Tuesday morning.
The representatives of the former Troika – now “Institutions” – will be expected to say YEY or NEY.
A Yes will mean that the Greek proposals have been accepted as such, the Eurogroup agreement of last Friday is sealed.
A No will call the Eurogroup finance ministers for a meeting in Brussels, and thus as soon as possible.
Before sending the final list of proposals, the Greek side sent a draft to the institutions on Sunday afternoon, awaiting their comments.
After the cabinet council on Saturday Yanis Varoufakis told reporters
“I am almost certain our list with the reforms will be approved by the institutions, they won’t say no. If institutions say No on Monday, there will be a eurogroup meeting on Tuesday. I hope they say Yes.”
The Greek proposals are thought as structural reforms to be legislated and implemented for the time of the “Bridge-Program”, that ends end of April.
The structural reforms refer mainly to measures to combat tax evasion and corruption, improvement of public administration, state expenditure, tackle fuel illegal trade. The Greek side wants reportedly also measures to tackle the humanitarian crisis, foreclosure protection for the ‘first residence’, new settlement of installments for debts to the state and the insurance funds.
PS if after the permanent consultations over the weekend, the Three say No, then there will be something rotten in this kingdom of the ex Troika.
The latest from internet…
One small step for Greece? #Varoufakis #supportsyriza #noTroika pic.twitter.com/Zb1cc0To7B
— FrançoiRalleAndreoli (@fr_andreoli) February 21, 2015
Christine Lagarde the woman of the IMF who all the men of the IMF line up to hide behind.
Of course its none of our business but isn’t Mario Draghi in massive financial trouble of his own ?
Pierre Moscovici – I can’t remember who he is, I will have to look him up.
Monday midnight – is that tonight – it is Monday in Australia ?
Oh my God !
Oh my God !
Oh my God !
And if Greece decides not to play the game their way ?
Tuesday Greece will be ….. what exactly ?
Considering that all the othere EU members are looking at the door so as to make a run for it.
And Greece will at some point send Yanis Varoufakis to the moon seeing as he has the suit – bon voyage dude !
It is worth quoting “Counterpunch” here
My sentiments exactly, with or without lists of “reforms”, with or without changing semantics, nothing is going to change unless Greece forces the issue and sticks to its original stance.
last Monday…
Irrespective of the day, the important bit is this one
. What they forgot to mention are the constitutions of the various countries. This was in fact all mentioned in a “paper” produced by none other than JP Morgan which you can find here
https://groups.google.com/group/random-thoughts-on-investments/attach/243626285e18f68b/JPM-the-euro-area-adjustment–about-halfway-there.pdf?part=7&authuser=0
16 pages on how to demolish the European welfare state and replace it by a neo-liberal get-richer (but only for the chosen few) state.
Although the paper is on the face of it about the Eruo area, the narrative speaks volumes about who and what this really is about…
Irrespective of what happens today, the main goal has indeed not changed one iota. It is quite simply a demand for the total surrender of any and all social policy in favour of a neo-liberal program of which here i Greece we all know the effect it has on society. That effect remains the same, no matter what semantics you use…
Ephilant, you’ll appreciate this
http://www.theautomaticearth.com/2015/02/throw-your-grandma-under-the-bus/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+theautomaticearth%2
While on that site, go to the previous article too.
Before you can negotiate you need to earn respect and trust. The EU gives Greece a change to do that. When the Greek government proves she can do better than till now, they have an opening for negotiations.
You can not expect that everyone say okay we trust you on your brown eyes and give money. History learnt that Greece had nicer financial figures when they entered the EU. Later the EU realized that if the right figures were presented Greece wouldn’t been allowed to join at all. Hopefully the EU learnt from that and checks everything, trust you have to earn and you need to be honest if you expect someone will help you. Therefore, if you trust your new government in there honesty and will, you can be hopefull? And yes the Greek are in the lead in this case. I hope they succeed and that they let the Greek economy grow with new industry and production, not only tourism, but export products.
Trust and respect work both ways… give anybody one reason why the EU, the EC and/or the ECB should be trusted, leave alone respected?
The modus operandi of the EU in a nutshell
http://oi61.tinypic.com/6p9v2w.jpg