Guarantee new financial aid for Greece

Guarantee new financial aid for Greece -

The Eurogroup announced that "Greece and the European institutions, with the participation (" input ") of Monetary Fund International "reached an agreement on the third financial assistance program to recover the situation in Greece .

" he agreed. Greece is, and irreversibly remain member of the euro zone ", said for his part in a message to the Twitter network the President of the European Commission Jean-Claude Juncker .

the ministers of finance and economy the eurozone and gave their approval to the previously agreed at the technical level to make loans of up to 86,000 million euros to the government of Athens.

the announcement of the Eurogroup is contained in an official statement published on page Council of Europe website, where he also pleaded pleased by the agreement and said that he perm ill allow Greece to have a primary deficit of 0.25% in 2015 and will require primary surpluses of 0.5 %, 1.75% and 3.5% in subsequent years until 2017.

the Eurogroup also hopes that in the future Greece becomes subject to an IMF program.

in return for the third bailout, Greece will have to make changes that will mean 4% to 5% of GDP, some of them in such sensitive areas as pensions, VAT or privatization.

therefore you receive on a period of three years to 86,000 million euros from creditors of the European Commission (EC), the European Central Bank (ECB) and the European Stability Mechanism (ESM).

the IMF, which participated in the two previous bailouts, has conditioned its role in the latter at a considerable remove debt for Greece, which has long required Athens but Germany, the main Greek creditor still objecting.

managing director of the Fund International Monetary (IMF) Christine Lagarde , he applauded the agreement reached today for a third bailout for Greece by the European partners, but insisted that the Greek debt is "unsustainable" and should be considered "significant relief "if you want to succeed.

" I keep firmly the view that Greece's debt has become unsustainable and the country can not restore debt sustainability only through its own actions, "he said Lagarde in a statement.

therefore, he stressed that it is "equally important" that European partners to make "concrete commitments" to provide "a significant debt relief, well beyond those considered so far".

the agreement, which came after six hours of discussions at an extraordinary meeting of the Eurogroup, provides a first disbursement of 26,000 million euros to be divided into two sections.

This amount is divided into two subtramos. one of 10,000 million euros, which will be immediately available in a special account of the bailout fund eurozone to recapitalize Greek banks

the second, 16,000 million euros, will be disbursed Greece in several installments, starting with one of 13,000 million before 20 August, just in time for Athens to cope with the disbursement of 3,400 million euros to the European Central Bank (ECB), according to the statement by the Eurogroup, the agency EFE news.

Another will be disbursed in autumn and will be subject to the implementation of key measures agreed in the memorandum of understanding sets out the conditions of the new program and will be specified by the European institutions and agreed by the "number two" of the ministers of Finance and Economy.

a second disbursement for the recapitalization of banks up to 15,000 million euros will after the first review of the rescue and in any case be paid before 15 November, subject to the planned review of the quality of bank assets and stress tests.

in total so there will be 25,000 million euros to clean up or liquidate the Greek banking problems.

should national parliaments approve the agreement at the beginning of next week, as expected, Greece could and settle debts by 3,400 million euros resources of the new and third aid package, the news agency DPA reported.

Meanwhile, the Eurogroup chairman Jeroen Dijsselbloem, gave a press conference at the end of the meeting.

Dijsselbloem, who is also finance minister of the Netherlands and chairman of the board of governors European stability mechanism, said the IMF will consider additional support in the autumn (northern hemisphere), and insisted that the Eurogroup is crucial participation of the Fund.

the also chairman of governors of the European mechanism stability (ESM) added that Greece's debt can be sustainable without nominal removes some, but other relief mechanisms will be taken into account.

He added that the board of governors of the ESM hopes to give its approval the 19th in the afternoon as part of the procedure, which "would unblock the initial tranche" rescue.

"All the hard work over the past few weeks has paid off," Dijsselbloem said, who said the extraordinary Eurogroup meeting today has been "very constructive".

raffled on during the same day parliamentary approval and ratification of the Eurogroup, Tsipras must deal now with dissidence in Syriza.

in a joint statement issued yesterday, former Minister Panayiotis Lafazanis announced the creation of a antirrescate movement advocating social mobilization to combat policies that will implement the new program, which is considered a prelude to the split of Syriza.

former Finance Minister Yannis Varoufakis, rejected the deal as unworkable, but offered to give up his seat if that strengthened the shaky alliance in power, and in an article published today called for "unity in the discrepancy "as a rule of conduct

. Source: Telam

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