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The delay in the disbursement of the 15 billion euros tranche is related to the decision of Athens not to increase VAT on five islands, which did not allow the parliament German to conclude the agreement, the head of the ESM Klaus Reckling.
As Mr. Relinging said, there was a commitment to the European institutions, which for my part remains.
Indeed, the fact that the approval of the German parliament has not been completed is linked to the decision of the Greek government not to increase VAT on five islands.
It 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 allow the German Parliament to approve the agreement, said the head of the ESM, noting that Berlin should have the same position within board of directors of the ESM.
On this subject, in response to a relevant question, the head of the Eurogroup, Mario Senteno, pointed out 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.It is very important for Greece to remain in the agreed reforms."
Pierre Moscovis stressed: "The first thing I want to say is that that it is not catastrophic because we do not expect to delay the disbursement.It is, stick to the number.It is 28 million euros.I understand the reserves, I respect the German Parliament, but this amount should not compromise the objective of a primary surplus of 3.5 %.Greece is overvalued each year and the figure is too small. "
Stente: At the beginning of the $ 15 billion tranche
Earlier, Mario Senteno noted that the decision to disburse the latest tranche of 15 billion euros has been ratified from 18 countries. The final decision which will give the "green light" for the disbursement of the tranche will be taken when all the procedures in the national parliaments will be finished
"I expect it to happen at the beginning of August", a- he noted.
She, she said, was the last meeting with Greece in a program. We welcomed the Commission's post-memorandum monitoring plan, launched in mid-August, said the president of the Eurogroup.
million. Senteno pointed out that despite international uncertainties, we are confident about the resilience of the euro area. Years of reform work. We must stay on the path of economic reform
We agree that building liquidity blocks remains a priority for countries with high debt
Moscovis: Greece returns to normalcy [19659008] Greece is back "
This means, noted the Commissioner, that the MES could meet tomorrow and approve in principle the payment that will be paid at the opening of the last tranche, said Pierre Moskovic, to finish and the recent adoption by the national parliament.This will take a little more than expected, but the process will be completed on time and we will enter the extended supervision phase.
The commissioner reiterated that the phase enhanced surveillance "is clearly not a new program under any circumstances"
waiver and QE
In response to a question, Mr Berez Kere of the ECB said: There are some known terms to be involved es in the EQ: waiver and then, the badessment of debt as a viable option. Finally, more importantly, decisions must be made formally. (19659002) Regarding the waiver, the decision is clear: a program is needed to get the benefit. Increased surveillance is not a program.
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