18/03/2015 16:19
The tension between Greece and its European partners deepens with the Greek Prime Minister, Alexis Tsipras sending a message that the country will not tolerate threats and the partners emphasizing that Greece is running out of time. At the same time IMF officials complain that Greece is the most unhelpful client ever in its 70 years history.
Alexis Tsipras, speaking from the Greek parliament, told the representatives of the lenders that threats are not for this government or the Greek people.
He stressed that Greece is not going to back from what has been announced and will insist on the implementation of the agreement of February 20. "We are not daunted by threats and intimidation. The era of the troika and technocrats is over”, he said shortly before the enactment of the bill to parliament addressing the humanitarian crisis.
Tsipras said that Costello’s letter, which described the bills promoted by the government to the parliament as a unilateral action, is an “audacity”.
“Is this the Europe we envisioned? Is this the Europe we desire? A [Europe] that characterizes the action to address the humanitarian crisis as unilateral. What Europe is this? Whom does it express?”
The Prime Minister said that the government is not willing to accept orders from technocrats and clarified that it will insist on a political solution, as it will address the Summit and the European Commission.
Time is running out
In Germany, Merkel’s government seems to harden its stance ahead of Tsipras’ meeting with the German Chancellor and possibly other European leaders and officials.
Time is running out for Greece, German Finance Minister Wolfgang Schaeuble said on Wednesday at a press conference. Schaeuble said Greece had repeatedly said it didn't want a third bailout programme.
"We have the impression, and everyone who is dealing with the question shares the impression, that time is running out for Greece. They obviously have certain problems," he said.
The German Minister also rejected a debt restructuring and said the discussion should focus on how the country can make its economy more competitive.
According to Reuters, Schaeuble said “a debt restructuring is not the issue but rather how Greece can get back on track to become competitive and regain access to financial markets”.
Be careful about words
France's finance minister on Wednesday urged all sides to be careful about the words they use when speaking about the Greek debt crisis, saying that this is key to avoid an accidental euro zone exit.
According to Reuters, "France will do everything it can to avoid an accident and I believe that what we will do will avoid it," Michel Sapin told lawmakers.
"But no one can be categorical on this and this is why, on both sides, people must control their language because, in this area, accidents are often due to bad choice of words rather than bad behaviour”, he added.
Grexit is not excluded
In his interview to the German newspaper Die Welt, Pierre Moscovici, the financial affairs chief, does not exclude the possibility of a Greccident.
"The Eurogroup has an overwhelming will to keep Greece in the euro zone. Financial accidents can happen. Our task, however, is not to organise this but to prevent it”, he said.
"We won't keep Greece in the euro zone at any price, but under strict conditions which are acceptable for both sides," Moscovici said, adding that any possible third aid package must look different to previous ones.
Moscovici warned a Greek exit from the single currency would still inflict great political damage, on the question whether a Grexit would be manageable. "Everyone would ask, Which member state is next?" he said.
There was also a new intervention by the President of the European Parliament Martin Schulz, who speaking at the Rheinische Post newspaper, calls on the Greek government to finally locate the dark bank accounts abroad in order to get money to the state coffers.
Athens should focus on this instead of avoiding addressing the real problems with controversial interim financing models, he said.
Greece most unhelpful country
International Monetary Fund officials told their euro-area colleagues that Greece is the most unhelpful country the organization has dealt with in its 70-year history, according to two people familiar with the talks, according to Bloomberg.
In a short and bad-tempered conference call on Tuesday, officials from the IMF, the European Central Bank and the European Commission complained that Greek officials aren’t adhering to a bailout extension deal reached in February or cooperating with creditors, said the people, who asked not to be identified because the call was private.
German finance officials said trying to persuade the Greek government to draw up a rigorous economic policy program is like riding a dead horse, the people said, while the IMF team said Greece’s attitude to its official creditors was unacceptable. The German Finance Ministry didn’t respond to multiple requests seeking comment.
While technical discussions have begun with Greece over how to implement a Feb. 20 euro-area finance ministers’ agreement for a four-month extension of Greece’s loan, progress so far has been minimal, according to the people involved in the talks, Bloomberg says.
Officials from the institutions monitoring the bailout said during the meeting that Greece is unilaterally pushing measures through parliament that have an unclear fiscal impact and without consulting them, a person familiar said, a source told Bloomberg.
Alexis Tsipras, speaking from the Greek parliament, told the representatives of the lenders that threats are not for this government or the Greek people.
He stressed that Greece is not going to back from what has been announced and will insist on the implementation of the agreement of February 20. "We are not daunted by threats and intimidation. The era of the troika and technocrats is over”, he said shortly before the enactment of the bill to parliament addressing the humanitarian crisis.
Tsipras said that Costello’s letter, which described the bills promoted by the government to the parliament as a unilateral action, is an “audacity”.
“Is this the Europe we envisioned? Is this the Europe we desire? A [Europe] that characterizes the action to address the humanitarian crisis as unilateral. What Europe is this? Whom does it express?”
The Prime Minister said that the government is not willing to accept orders from technocrats and clarified that it will insist on a political solution, as it will address the Summit and the European Commission.
Time is running out
In Germany, Merkel’s government seems to harden its stance ahead of Tsipras’ meeting with the German Chancellor and possibly other European leaders and officials.
Time is running out for Greece, German Finance Minister Wolfgang Schaeuble said on Wednesday at a press conference. Schaeuble said Greece had repeatedly said it didn't want a third bailout programme.
"We have the impression, and everyone who is dealing with the question shares the impression, that time is running out for Greece. They obviously have certain problems," he said.
The German Minister also rejected a debt restructuring and said the discussion should focus on how the country can make its economy more competitive.
According to Reuters, Schaeuble said “a debt restructuring is not the issue but rather how Greece can get back on track to become competitive and regain access to financial markets”.
Be careful about words
France's finance minister on Wednesday urged all sides to be careful about the words they use when speaking about the Greek debt crisis, saying that this is key to avoid an accidental euro zone exit.
According to Reuters, "France will do everything it can to avoid an accident and I believe that what we will do will avoid it," Michel Sapin told lawmakers.
"But no one can be categorical on this and this is why, on both sides, people must control their language because, in this area, accidents are often due to bad choice of words rather than bad behaviour”, he added.
Grexit is not excluded
In his interview to the German newspaper Die Welt, Pierre Moscovici, the financial affairs chief, does not exclude the possibility of a Greccident.
"The Eurogroup has an overwhelming will to keep Greece in the euro zone. Financial accidents can happen. Our task, however, is not to organise this but to prevent it”, he said.
"We won't keep Greece in the euro zone at any price, but under strict conditions which are acceptable for both sides," Moscovici said, adding that any possible third aid package must look different to previous ones.
Moscovici warned a Greek exit from the single currency would still inflict great political damage, on the question whether a Grexit would be manageable. "Everyone would ask, Which member state is next?" he said.
There was also a new intervention by the President of the European Parliament Martin Schulz, who speaking at the Rheinische Post newspaper, calls on the Greek government to finally locate the dark bank accounts abroad in order to get money to the state coffers.
Athens should focus on this instead of avoiding addressing the real problems with controversial interim financing models, he said.
Greece most unhelpful country
International Monetary Fund officials told their euro-area colleagues that Greece is the most unhelpful country the organization has dealt with in its 70-year history, according to two people familiar with the talks, according to Bloomberg.
In a short and bad-tempered conference call on Tuesday, officials from the IMF, the European Central Bank and the European Commission complained that Greek officials aren’t adhering to a bailout extension deal reached in February or cooperating with creditors, said the people, who asked not to be identified because the call was private.
German finance officials said trying to persuade the Greek government to draw up a rigorous economic policy program is like riding a dead horse, the people said, while the IMF team said Greece’s attitude to its official creditors was unacceptable. The German Finance Ministry didn’t respond to multiple requests seeking comment.
While technical discussions have begun with Greece over how to implement a Feb. 20 euro-area finance ministers’ agreement for a four-month extension of Greece’s loan, progress so far has been minimal, according to the people involved in the talks, Bloomberg says.
Officials from the institutions monitoring the bailout said during the meeting that Greece is unilaterally pushing measures through parliament that have an unclear fiscal impact and without consulting them, a person familiar said, a source told Bloomberg.
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