Greece put on
yesterday to the current in its payments to the International Monetary Fund, to
which owed 2.000 million Eurus for four expirations of June and one of this
month. Athens was also able to pay the funds had bought for five years by the
European Central Bank by value of 3.500 million Eurus on time (more interests).
Athens is able this way to put to zero the accountant with two of its
international creditors, but this is a countable deceit of big proportions
because in the bottom Greece has not paid anything it has simply transformed
the payment of some debts in another bridge of the UE of 7.160 million Eurus
that Brussels waits to discount of a third rescue (2015-2018) of up to 86.000
million Eurus.
It is a really
absurd situation, while the negotiations of that third beat of loans (after
that of 2010 and 2012) they will begin shortly, as soon as the government of
Alexis Tsipras completes the previous conditions fixed by the area euro. Greece
already has committed 7,160 million Eurus but it is that also this debt a
priori doesn't alleviate the necessities of the at all day by day of Greece it
simply serves so that officially the country is not a doubtful one and he can
receive this way more loans and to continue maintaining its debt in the same
proportions.
The curious
thing of all this is that among the conditions to negotiate the second rescue
figure the ascent of the IVA for numerous products that yesterday went into
effect. The maximum type continues being 23%, but the suppression of exceptions
will go up the stocking that is of 13% (7,7% in Spain) with the objective of
collecting 1.800 million more Eurus a year. Looking as in the quantities before
beginning to collect 1,800 million a year has already gotten in debt indirectly
in 7,160 the game of numbers it is an authentic labyrinth whose exit is not
another that the exit impossibility.
The troika has
also demanded before July 22 a reformation of the law of civil prosecution (to
accelerate the judicial processes) and the conversion of the directive European
on bank restructuring, a norm that he forced to recapitalized the banks with
position to the shareholders, the forks of subordinate debt and the non-guaranteed
deposits (above 100.000 Eurus) that is to say the legal expropriation of the
capitals of the Greek impostors. The voting of those two laws in the Greek
Parliament, foreseen for tomorrow, will mark the level of resistance of the
Government of Tsipras whose parliamentary group already registered the week
last 36 desertions in the vote on the IVA.
It is not the
moment to celebrate premature elections, he said yesterday in Athens the
Government's spokesman. Tsipras fears that the breakup of the camera brakes or
frustrate the negotiations of the third rescue, what would leave Greece without
international financing and it could reopen the debate on the exit of the
country of the euro. "What I worry about, is that some think that if we
leave the euro there won't be necessity of austerity", he complained
yesterday the minister and ally of Tsipras, Nikos Pappas.
Evidently this
reflection is correct and preoccupant but this belief imbued to the Greek
society are blame of the own Syriza that I use it vilely in its campaign of
elections, it seemed that with Syriza, they will end the cuttings and now it is
that you increases. Athens confronts August 20 another expiration of 3.200
million Eurus with the BCE. And the debt with the IMF until final of September
overcomes the 1.700 million, more 1.800 million Eurus until final of year.
Without external help, Greece incur in unpaid again and it could lose the
support of the BCE.
But the most
serious thing is that he gives the impression that to Syriza what he cared was
to win the last elections, and to govern Greece like was, because I understand
that after the results obtained during their short administration what should
make Syriza it is to return to the urns to check if the Greek town trusts them
to continue advancing toward he swims her that it is what has offered him and
Syriza will offer him.
Before returning
to the urns, Tsipras trusts to reach an agreement with the troika on the third
rescue him to allow to stabilize the country financially. The negotiation, however,
it can get complicated for the reach of the adjustments and cuttings that it
claims the area euro to Greece to compensate the economic deterioration of the
last 12 months (the second rescue was blocked in June of 2014, by the
resistance to complete the conditions of the government of Samaras, first, and
of that of Tsipras, later) and to recover the trust in the Greek
Government.
What passes with
Greece is diabolical and to me personally gives me a lot of pain I find the
European institutions to be playing to the economic fronton and that Greece is
the ball that I goes he comes bounced an and another time there is not right to
make this, Greece is suffering for their sins it is certain but it doesn't
deserve this punishment because the UE knows perfectly that Greece won't be
able to leave the situation that has been created and that they determine to
maintain and this is not warp because he also stays because Greece is a small
country that doesn't alter the global economy of the euro at all, for this
reason I say that instead to get dizzy it with unconscious economic actions
would should or the own Greece or the Eurozone to separate once and for all for
all.
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