Brussels refuses to give more time to Greece

Aug. 16, 2012 - PRLog -- BRUSSELS, Aug. 16 (IRIN) -
(Translated from Spanish  Newspapers)
  The European Commission has rejected speculation on Thursday the possibility of allowing more time for Greece to meet the cuts committed to changing the second save or make other changes in the adjustment program agreed so far as changes in interest rates or new remove for the creditors of Greek bonds.

  "The Commission has not received any request from the Greek Government on the possible extension of the program. The Commission is fully committed to implementing the current program," said the spokesman of the EU executive, Olivier Bailly.

  "We do not speculate on the extent of the program or any program changes that may be imposed or applied to the program" has settled the spokesman said.

  The Government of Antonis Samaras intends to apply next week for German Chancellor Angela Merkel and French President François Hollande, when you meet with them to give to Greece two years to implement the program settings.

  The troika, consisting of the European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF), will travel to Athens "early September" to check the funding requirements of Executive Greek and degree enforcement of agreed reforms and cuts in order to "complete its assessment," said Bailly.

  "Once and only when the troika was able to complete its evaluation and inform the Eurogroup with the Member States shall see if there are other items to discuss," he explained.

  The EU executive hopes that the Government of Athens present "concrete measures" to implement the fiscal adjustment 11,500 million additional Eurogupo agreed with the end of July.

  "We hope the Government (Greek) come and have worked the entire month of August in concrete measures to shore up the new fiscal measures we have agreed with them in late July," said Bailly.

  The spokesman said the government of Samaria Antonis transmitted them that when they return in early September "have identified concrete steps to make these cuts more specific." Remain to accurately specify cuts worth 4,000 million euros.

  The troika will remain "the time, some days, some weeks" in the Greek capital to conduct its analysis, study "if we see these measures sufficiently credible" and "finalize some elements on the progress they have made," and to evaluate " their financial needs "in the fall.

  Germany and other countries have refused to relax the conditions of the rescue Athens Greek and require compliance with cuts agreed to release the next tranche of the bailout, from around 31,500 million euros.

  The EU executive did not rule out the troika can make its preliminary assessment of the finance ministers of the euro in their informal meeting in mid-September in Nicosia but remember it is for the Eurogroup Chairman Jean Claude Juncker, set the agenda. Juncker also visit Athens next week.

  "It's a casual Eurogroup, so that you can not expect any decision in mid-September," said Bailly, the possibility of releasing the next tranche of bailout for Greece.

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