Germany gives Greece one last chance 

BY PETER RIESSBECK

BRUSSELS, July 8 – At the summit in Brussels are the Euro Group creditors  present a third offer – and the government sets a final deadline.

Greece is facing a third payment. “We are willing to do anything to save Greece,” German Chancellor Angela Merkel said on Tuesday after a crisis summit of the euro countries in the summit.

At the same time the leaders of the Greek Prime Minister Alexis Tsipras set a final deadline. Until Thursday his government has “detailed savings proposals” submit, as Merkel said.

© Translation / Frankfurter Rundschau

A special summit of all 28 EU member states will then advise you on Sunday on how to proceed. The “decisive day” is Sunday, said Italian Prime Minister Matteo Renzi

It is expected that Tsipras on Wednesday submits an auxiliary driving support the rescue fund ESM. This presupposes strict conditions. So the euro zone as a whole has to be at risk, also a debt sustainability must be given. This is in Greece more than questionable.

Expected is therefore a debt deal. This will provide according to diplomats no nominal haircut, but probably relief about an extended loan maturities.

“We need a multi-annual program, which over the previously known goes far”, Merkel pointed to the special dimension of a third rescue package.

But are expected before exact savings proposals by the Greek government. If these before, Greece could also kurzfrsitige transitional benefits are granted, Merkel hinted.

It envisages about a payment of winnings in the amount of EUR 1.8 billion, which made the European Central Bank (ECB) with Greek government bonds.

Greece has to pay more than 3.5 billion euros on 20 July a loan from the ECB. But the country is bankrupt. The banks in the country dependent on ECB emergency loans.

According to experts consider the Institute by only two days. It was not “to weeks, but days,” Merkel summed up. In the discussions also US President Barack Obama intervened.

© Translation / Frankfurter Rundschau

EurogipfelGriechenland bekommt eine letzte Chance

PHOTO: AFP