Sunday, July 5, 2015

The European Parliament made provision of emergency aid to Greece – Lenta.ru

European Parliament President Martin Schulz did not rule out that Greece may be given extra credit for the payment of civil servants and support the poor. He stated this in an interview with the German newspaper Die Welt.

Schultz lamented the government in Athens, which, according to him, has put everyone in a difficult position. He described the behavior of the Greek authorities irrational. “There’s people act on the principle,” or I’ll get everything, or be gone all to hell “,” – said the head of the European Parliament. At the same time, he said, “millions of innocent ordinary people in Greece must pay for the failed policies».

He acknowledged that without fresh money the state can not pay salaries, will not operate the health care system, public transportation, not It will power. “We will not leave people in Greece to fend for themselves,” – promised to Schultz, expressing hope that funds for this purpose to allocate Brussels quickly.

14:43 Today

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The report “Heathcliff” from Greece, where the referendum loyalty to the Eurozone

17: 09 29 June 2015

Elderly people, who usually get their pensions at the end of the month, wait outside a closed bank in the northern Greek port city of Thessaloniki, Monday, June 29, 2015. Greece's five-year financial crisis took its most dramatic turn yet, with the cabinet deciding that Greek banks would remain shut for six business days and restrictions would be imposed on cash withdrawals. (AP Photo / Giannis Papanikos)

beginning of the end

The decision to hold a referendum on Greece’s debt shook world financial markets

Calling once again the Greek citizens to vote for reform, Schultz expressed doubt that the Greek government, led by Alexis Tsipras in initially was interested in consensus. He noted that not only Germans but also citizens of other European countries-creditors of Greece feel that they cheated. However, the escalation of social tensions in the current circumstances would be, in his view, undesirable.

The crisis in Greece is related to the country’s inability to pay the debt with international creditors, which include the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission. The external debt of Greece more than 300 billion euros. At the same time, according to the IMF, to normalize the situation in the country will need 52 billion euros over the next three years. In addition, part of the debt will have to be written off.

The referendum held in Greece on July 5, shall determine the attitude of the inhabitants of the country to the austerity measures proposed by international lenders. The form for voting indicated two possible answers to the question of whether to accept the plan of the European Commission, the ECB and the IMF – yes or no. The plan calls for higher taxes, cuts in pensions and other social benefits in exchange for debt restructuring. Tsipras government opposes the proposed program and seeks to enlist the help of a referendum of Greek citizens.

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