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Greek bailout talks expected to go ahead on Monday after delay Greek bailout talks expected to go ahead on Monday after delay
(about 1 hour later)
Talks between Greece and its international creditors over a new bailout package should go ahead after logistical issues that delayed meetings this week are resolved, a Greek official has said.Talks between Greece and its international creditors over a new bailout package should go ahead after logistical issues that delayed meetings this week are resolved, a Greek official has said.
The meetings with officials from the European commission, European Central Bank and International Monetary Fund had been expected to start on Friday but were delayed by organisational issues including the location of talks and security.The meetings with officials from the European commission, European Central Bank and International Monetary Fund had been expected to start on Friday but were delayed by organisational issues including the location of talks and security.
The finance ministry official said on Saturday that talks were now expected to get formally underway on Monday after the logistical issues had been resolved. The official denied that the government was trying to keep the lenders’ team away from government departments. “We don’t have any problem with them visiting the general accounting office,” the official said.The finance ministry official said on Saturday that talks were now expected to get formally underway on Monday after the logistical issues had been resolved. The official denied that the government was trying to keep the lenders’ team away from government departments. “We don’t have any problem with them visiting the general accounting office,” the official said.
Related: The great Greece fire sale
Greeks have viewed inspection visits by lenders in Athens as a violation of the country’s sovereignty and six months of acrimonious negotiations with EU partners took place in Brussels at the government’s request.Greeks have viewed inspection visits by lenders in Athens as a violation of the country’s sovereignty and six months of acrimonious negotiations with EU partners took place in Brussels at the government’s request.
Asked if the government would now allow EU, IMF and ECB mission chiefs to visit Athens for talks on a new loan, state minister Alekos Flambouraris said: “If the agreement says that they should visit a ministry, we have to accept that.”Asked if the government would now allow EU, IMF and ECB mission chiefs to visit Athens for talks on a new loan, state minister Alekos Flambouraris said: “If the agreement says that they should visit a ministry, we have to accept that.”
The confusion around the expected start to the talks on Friday underlined the challenges ahead if negotiations are to be wrapped up in time for a bailout worth up to €86bn (£60bn) to be approved in parliament by 20 August, as Greece intends.The confusion around the expected start to the talks on Friday underlined the challenges ahead if negotiations are to be wrapped up in time for a bailout worth up to €86bn (£60bn) to be approved in parliament by 20 August, as Greece intends.
Already, the Greek prime minister, Alexis Tsipras, is struggling to contain a rebellion in his leftwing Syriza party that made his government dependent on votes from pro-European opposition parties to get the tough bailout terms approved in parliament.Already, the Greek prime minister, Alexis Tsipras, is struggling to contain a rebellion in his leftwing Syriza party that made his government dependent on votes from pro-European opposition parties to get the tough bailout terms approved in parliament.
One of Tsipras’s closest aides warned that the understanding with the opposition parties could not last long and said clear solutions were needed, underlining widespread expectations that new elections may come as soon as September or October. “The country cannot go on with a minority government for long. We need clear, strong solutions,” state minister Nikos Pappas said.One of Tsipras’s closest aides warned that the understanding with the opposition parties could not last long and said clear solutions were needed, underlining widespread expectations that new elections may come as soon as September or October. “The country cannot go on with a minority government for long. We need clear, strong solutions,” state minister Nikos Pappas said.
Tsipras, who is by far the most popular politician in Greece according to opinion polls, has said his priority is to secure the bailout package before dealing with the political fallout from the Syriza party rebellion.Tsipras, who is by far the most popular politician in Greece according to opinion polls, has said his priority is to secure the bailout package before dealing with the political fallout from the Syriza party rebellion.
According to a poll by Metron Analysis for Parapolitika newspaper on Saturday, 61% of Greeks had a positive view of Tsipras, compared with 36% who disapproved. An overwhelming majority – 78% – still wanted Greece to stay in the eurozone against 19% in favour of going back to the drachma.According to a poll by Metron Analysis for Parapolitika newspaper on Saturday, 61% of Greeks had a positive view of Tsipras, compared with 36% who disapproved. An overwhelming majority – 78% – still wanted Greece to stay in the eurozone against 19% in favour of going back to the drachma.
Tsipras insists there is no viable alternative to the bailout but has been wary of striking out against his party opponents in a bid to keep it together, at least while talks proceed.Tsipras insists there is no viable alternative to the bailout but has been wary of striking out against his party opponents in a bid to keep it together, at least while talks proceed.
Flambouraris called on Syriza rebels to drop their opposition. “They are still my comrades and I urge them to get back to their senses even at the last moment,” he said. “They should realise that the left movement is now in power. It’s not an opposition party. Now we have to discuss the new landscape.”Flambouraris called on Syriza rebels to drop their opposition. “They are still my comrades and I urge them to get back to their senses even at the last moment,” he said. “They should realise that the left movement is now in power. It’s not an opposition party. Now we have to discuss the new landscape.”
Meanwhile, a report said that Germany was willing to discuss the creation of a eurozone finance minister who would have his or her own budget and be able to raise extra taxes.
It follows proposals laid out last month by the European Commission president, Jean-Claude Juncker, for greater joint control over the currency zone’s economies.
On Saturday, the German magazine Der Spiegel quoted government sources saying that finance minister Wolfgang Schaeuble was open to the idea of transferring “substantial financial resources” from his tax revenues to a separate budget of the monetary union.
One option could be that the 19 eurozone member countries would hand over parts of their national revenues from income and value-added tax to such a eurozone budget, the report said.
The eurozone finance minister could also get the right to put a surcharge on taxes, which would amount to the creation of a “euro tax”.