The Eurogroup ministers met and rejected Greece’s request for a month extension of the program. Then Jeroen Dijsselbloem decided to hold a further EG meeting thus excluding Greece. The FinMins are supposed to decide what to do on a Plan B, Plan C or whatever or as Dijsselbloem said “in order to preserve the Eurozone stability.”
Since the 20 February 2015 agreement of the Eurogroup on the extension of the current financial assistance arrangement, intensive negotiations have taken place between the institutions and the Greek authorities to achieve a successful conclusion of the review. Given the prolonged deadlock in negotiations and the urgency of the situation, institutions have put forward a comprehensive proposal on policy conditionality, making use of the given flexibility within the current arrangement.
Regrettably, despite efforts at all levels and full support of the Eurogroup, this proposal has been rejected by the Greek authorities who broke off the programme negotiations late on the 26 June unilaterally. The Eurogroup recalls the significant financial transfers and support provided to Greece over the last years. The Eurogroup has been open until the very last moment to further support the Greek people through a continued growth-oriented programme.
The Eurogroup takes note of the decision of the Greek government to put forward a proposal to call for a referendum, which is expected to take place on Sunday July 5, which is after the expiration of the programme period. The current financial assistance arrangement with Greece will expire on 30 June 2015, as well as all agreements related to the current Greek programme including the transfer by euro area Member States of SMP and ANFA equivalent profits.
The euro area authorities stand ready to do whatever is necessary to ensure financial stability of the euro area.
[1] Supported by all members of the Eurogroup except the Greek member.
Meanwhile it comes out that the Eurogroup is an “informal body” and therefore it takes “informal decisions.” Informal Head Dijsselbloem decided to exclude a formal member form the meeting. How “informal” ad wrong is this?
Something like an informal European coup d’État?
Meanwhile, French FinMin Sapin exit the “Grexcluded” private EG meeting and said that “France will do anything to mediate for a solution between Greece and creditors until Tuesday.”
PS Good! We can go for a beer now. It’s Saturday night, after all.
The commen european worker has just have enough of this sharade. We will not pay you again over and over and slave 50 h a week on two jobs so you can have o so many benefits. enough is enough!
Unless you’ve a mandate of any kind which allows you to speak for everyone, don’t pretend to be the “common european worker” please. I’m as much a european worker as you and I think the exact opposite. As are thousands of Irish, Spanish, Italian and French people who are now showing their support for Greece on every social medias and on the streets.
Drunken? Greeks are guilty for that you have no balls to lynch your boss?
Well put. Thanks
Yes, the semi-literate and semi-coherent garbage is of the same variety as yours. Is it a sock-puppet?
Comprehensive proposaL?
Flexibility??
Full support???
Eurogroup has been open????
Further support the Greek people through a continued growth-oriented programme?????
What a bunch of crap!!!
Where was I when this happend? LOL
Wat is dit je zeggen over de prachtig, zwierig, lafhartig Dijon Mosterd Bloem ?
Misschien doe je er wel beter aan eerst wat Nederlands te leren voordat je onzin zoals dit publiceert?
ha google translate
To learn the Dutch language has nothing to do with him to be entitled to have his opinion about our minister.
He wrote it wrong but at least he tried (even with google translation) 😉
The problem for Greece is that they cannot run their own currency into infinity like the US Federal Reserve & European Centeral Bank.
Who’s silly idea was it to join an organisation to be stripped down & locked in a cage ?
THANK GOD FOR THE BLACK MARKETS or the peoples of the world would have starved to death long ago.
What kind of beer do you have in Greece ?
“What kind of beer do you have in Greece ?”
Gotta go with Vergina weiss – even though it’s “German” beer 😉
Gotta support domestic businesses – now more than ever…
On topic:
Interesting week ahead (for Greeks).
On the contrary: In the last few weeks I get the feeling people in Europe are less and less interested in what happens in Greece.
Yeah, you occasionally had a few thousand demonstrators here and there – but talking about the whole situation at work, University etc you mostly get a “whatever…” response.
Seems abroad this obsession about with Greece is mostly Media driven…