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As it was postponed after the meeting of the Eurogroup , the delay in disbursements a slice of 15 billion euros is related to the decision of Athens not to increase VAT on five islands. This did not allow the approval of the agreement by the German parliament, noted CEO Klaus Rügling.
As Mr. Regling said, "there was a commitment to the European institutions, which remains for me."
Indeed, the fact that the approval of the German Parliament has not been completed is related to its decision The Greek government does not increase VAT on five islands
This was one of the prerequisites. we all know that the amount is not important, it is 28 million and we have the commitment of Greece that it will be for six months. Today, Greece is committed to finding equivalents of 28 million euros elsewhere in the budget. This is an important commitment that will also allow the German parliament to approve the agreement, said the head of the MES.
On this subject, answering a relevant question, the head of the Eurogroup, Mario Senteno, stressed that the Greek authorities have made enormous efforts to complete the program and show control of the reforms. "The end of the program is very important to build confidence and it is very important that Greece remains in the agreed reforms".
In these circumstances, disbursement will not occur in July but in August.
"The final decision that will give the go-ahead for the disbursement of the tranche will be made when all proceedings in the national parliaments are completed.I think this will happen at the beginning of August", said Mr. Senteno
. Finally, Benoua Kere, a member of the ECB, closed the door to Greece's participation in QE quantitative easing. he said, the head of the central bank Mario Draghi was clear a few days ago at Eurovul, when he described the conditions for doing so. In particular, Mr. Kere said that there must first be a waiver, then there must be an badessment that the debt is sustainable and that the decision must be made formally.
He concludes by saying that there should be a waiver program, noting that monitoring is not a program
Defense spending is being sought
However, according to information, Finance Minister Euclid Tsakalotos informed the counterparts that the equivalents will come from cuts of 28 million euros in the budget of the Ministry of National Defense this year (9 million euros from the reduction of health expenditure, pharmaceutical and travel personnel of the armed forces, 5 million euros of expenditure for NATO, 4 million euros for aircraft maintenance and 10 million for armaments)
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