Greece avoid bankruptcy, received until August 20, 26 billion euros from the Eurogroup in the third bailout package. Out of this amount will be repaid debt to the European Central Bank, as well as replenish the capital of the Greek financial institutions. About this newspaper Tages-Anzeiger.
The Eurogroup linked the provision of Athens 86 billion euros with the introduction of the Greek government austerity. Pension will be reduced, increase taxes on individuals and businesses, farmers do not receive subsidies. But on this basis is irreversible Greece euro zone member, noted European Commission President Jean-Claude Juncker.
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However, the decision of eurozone finance ministers must be approved by national parliaments. Germany insists that the salvation of Greece joined the International Monetary Fund. For its part, the IMF does not give this consent. IMF experts are skeptical that Athens will be able to repay the debt of 180 percent of GDP. It is expected that after 2018 Greece’s budget deficit for a long time will be about 3.5 percent.
The IMF said that the adoption of the third package of aid to Athens is an important step. However, Greece’s debt is “very heavy”, so Europeans should go for drastic reduction of the debt burden. Against that Germany strongly objects. A similar position is held by Finland.
Experts note that the chairman of the IMF, Christine Lagarde, has toughened the tone in dialogue with European counterparts. The internal stress in the organization grows. Representatives of the Asian countries are unhappy too large a fund to help Europe. Nearly two-thirds of the total volume of loans fell allocated to Greece and Portugal. It is possible that in this situation the question may be raised in the future to change the rules of appointment of the head of the IMF among European politicians.
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