Arab Today, arab today europe imf await new greek concessions
Last Updated : GMT 14:38:16
Arab Today, arab today
Arab Today, arab today

Europe, IMF await new Greek concessions

Arab Today, arab today

Arab Today, arab today Europe, IMF await new Greek concessions

A protester holds a sign reading All we are saying is give Greece a chance
Athens - AFP

Negotiations are expected to resume this weekend between Greece and its EU-IMF creditors seeking a deal on bailout funding for Athens, ahead of a crucial summit of eurozone leaders to avert a Greek default and likely euro exit.

European Union heads have called on Greece's leftist government to present new reform and budget proposals, with Greek minister of state Alekos Flambouraris saying Saturday Athens could propose re-worked measures.

Speaking to television channel Mega, Flambouraris said several concessions were being examined, including stepped-up prohibition of early retirement schemes -- something Athens has already accepted in principle -- and lowering thresholds on which corporate profits are taxed.

Flambouraris said those and other compromises should bring Athens and its creditors  -- European Commission, International Monetary Fund and European Central Bank --  closer to agreement on freeing up 7.2 billion euros ($8.1 billion) in blocked bailout funds Greece desperately needs to meet looming debt payments to the IMF and ECB.

By June 30 Athens has to honour an IMF payment of around 1.5 billion euros.
"We are going to present measures that bridge the gap," Flambouraris was quoted as saying by Greek media, while also predicting Greece's creditors won't be satisfied with the gestures.

"You'll see they won't accept loosening budget (restrictions), or our proposal on the debt," he said of two main sticking points in the talks.

Given the continued deadlock and ticking clock towards potential default, Flambouraris said a phone exchange between Greek Prime Minister Alexis Tsipras and European Commission president Jean-Claude Juncker could take place on Saturday.

The contact is one Athens' concerned eurozone partners have been urging for several days. Worry about the continuing stalemate has been rising in other quarters, as well.

Given what he called the "critical" state of the situation, EU President Donald Tusk on Friday called on Greece to rapidly come to an agreement with its European and IMF creditors, or risk heading "straight into default."
The White House also appealed for an urgent compromise to be struck, based on what it said must be "a programme of credible reform."

Without such action, Greece appears likely to default on its June 30 debt payment, and with that risk a chaotic exit from the eurozone.

- 'Deafening silence' -

That prospect appeared to be fuelling the rising number of  Greek savers withdrawing money from national banks. The increase forced the ECB on Friday to lift its emergency liquidity reserve available to Greek banks for the second time in a week.

Tsipras -- who has never hidden his desire that an eventual accord be hashed out between political leaders rather than by negotiating teams of technical advisers -- will find his European peers waiting expectantly for breakthrough proposals at Monday's emergency summit in Brussels.
Yet following the failure of Thursday's meeting of eurozone finance ministers, several European officials have warned the summit will likely be futile unless Greece presents proposals attentive to creditors' demands.   

"We need some kind of proposals on the table at the summit," said Finnish finance minister Alexander Stubb.

German Chancellor Angela Merkel also issued a warning that the meeting will remain merely "consultative" without new Greek concessions allowing the "basis of an accord" to be reached.

By contrast, Athens -- which says it has already made considerable sacrifices, and has presented a range of spending cuts, revenue hikes and structural reforms -- has expressed its resentment over what it calls the lack of interest its partners have shown in Greek concession offers.

On Saturday, Greek Finance Minister Yanis Varoufakis said during Thursday's eurozone meeting, "my presentation was met with deafening silence."

"All the other speakers ignored our proposals and reiterated ministers' frustration about the fact that Greece hadn't... (made) any propositions," Varoufakis wrote in an Irish Times opinion piece.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today europe imf await new greek concessions Arab Today, arab today europe imf await new greek concessions

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday