If, in recent trading days, Greece and its creditors reach an agreement on the conditions that Athens must meet, financing the country that allows you to meet its commitments at least until the end will be available November.
According to sources of the troika , in question will be an amount of about 16 billion euros, which will come from a number of sources: the last tranche of the second loan the euro zone, the last tranches of the IMF loan, of the money that has been reserved for capitalizing Greek banks and the delivery of the profits made by the Eurosystem with the Greek public debt. The latter amount, amounting to 3.6 billion euros, is what can be released more quickly to Greece so Athens say yes to an agreement, since it is not dependent on approval of national parliaments.
This is how we want to ensure that in the event of an agreement, Greece is money available to meet its many commitments. As soon as next Tuesday has to pay 1600 euros to the IMF. And in July and August, you need to write off Greek debt in the hands of the ECB and corresponding to a value greater than 7,000 million euros.
This proposal was submitted by the institutions of troika the Eurogroup, but the finance ministers have not yet analyzed, because the first are busy with getting an agreement with Greece regarding the conditions imposed in the program.
It is that which are the main obstacles to the materialization of extending the program (which expires on Tuesday) for another five months.
On the side of troika , ensure that the differences between the their own proposals and the Greek proposals “are already very small.” But between the Governments optimism does not seem so great.
In Greece, the leaders of the government speak of demands made by lenders that are very difficult to overcome. According to the Government of Athens, at a meeting this morning with Angela Merkel and François Hollande, Alexis Tsipras said he did not understand why lenders are imposing such difficult measures.
On the side of Germany, the Finance Minister Wolfgang Schäuble talks about a 50% chance to reach an agreement. His spokesman also said that it is up to Greece to make concessions to enable a successful outcome of negotiations.
The reasons for the disagreement between the parties remains essentially on measures to be taken in the pension system and VAT, and the governments of the euro zone also seem unwilling to take a public debt restructuring, which is requested by Athens.
The journalist traveled at the invitation of the European Commission
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