Germany give Greece a delay ? and regain the confidence of - Loans

Providing Greece more time to implement reforms will not help resolve the country's debt crisis. This statement was made by German Finance Minister Wolfgang Schaeuble.

Comment The German Minister was followed by the Greek Prime Minister Antonis Samaras, who on August 24 to meet with Chancellor Angela Merkel, French President Francois Hollande and the head of the Eurogroup Jean-Claude Juncker. V.Shoyble noted that international lenders have already approved the second tranche of financial assistance and agreed to write off a large part of Greece's debt. ?You can not just say one year later, that all this is not enough, because in this case, to restore the confidence of the financial markets will be impossible,??? he stressed.

Eve A.Samaras said that Greece needs more time to implement reforms, not more help. ?All we want?? it's a bit of freedom to make the economy work and increase state revenues. More time does not necessarily mean more money. In the near future we will have a smaller, but much more efficient public sector?,?? the head government.

Finance Minister also expressed doubt about the argument A.Samarasa under which Greece will not require additional funds. ?If there is any doubt, more time means more money. And to provide more funds will need a new program,??? said V.Shoyble. According to unofficial information, the upcoming meeting A.Samaras going to ask for a two-year delay in order to achieve a reduction of the budget deficit to less than 3% of GDP. Currently, Greece has to achieve similar performance to the end of 2014. In 2011. Greece's budget deficit was 9.3% of GDP.

In September, 2012. ?Troika? of international creditors Greece (European Commission, the ECB and the IMF) will take a decision on the allocation of the next tranche of Athens in the second program of financial aid of 130 billion euros. At the moment, international lenders expect Athens reports work in Greece group auditors.

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Source: http://allloans.biz/germany_give_greece_a_delay_and_regain_the_confidence_of_financial_markets_will_not_be/

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