The Eurogroup was suspended, according to information released by the finance minister of Finland. However, the Greek Prime Minister and lenders are tonight at 22 hours.
The expectations pointed to the discussions were long on Wednesday. But after today’s Eurogroup meeting only lasted about an hour. He was suspended and the Ministers of Finance of the euro back to meet tomorrow at 12 hours from Lisbon.
The news came in the first place, through a Twitter Alexander Stubb, Minister of Finance of Finland. However, the president of the Eurogroup Jeroen Dijsselbloem, also confirmed the suspension of the meeting. E pointed out that “unfortunately an agreement between Greece and the creditors has not yet been achieved.” “We are determined to continue the work at night if necessary,” he added in remarks to reporters outside the meeting.
The Finance Minister of Finland, Alexander Stubb, in turn, pointed out to reporters that tomorrow when the ministers come back to meet, “expect to have a concrete proposal.” “It’s always important to keep the process going for political reasons but also – to be honest – to show to the world that we are seriously trying to reach an agreement,” he added, quoted by Bloomberg. Stubb no secret “that time is running out” and assumes that “nothing was given to us, is a negotiation between the instuons and the Greek government.”
At the entrance to the Eurogroup, the Finnish minister said that “would be positively surprised if there was” an agreement today. And pointed out that there have been many advances and retreats “at the technical level and the political level and we have not seen a concrete proposal.”
In turn, Pierre Moscovici, European Commissioner for Economic Affairs, after the meeting argued that an agreement is still possible and that lending institutions have “a common position”, according to Bloomberg.
However, the Greek prime minister and its creditors are this night at 22 hours from Lisbon to discuss the situation in Greece, which remains deadlocked because of disagreements over the reforms required of the country. The meeting of Tsipras with creditors tonight is not the first day. Already in the early afternoon both parents gathered. Shortly after, and for nearly five hours, according to Bloomberg, the Greek prime minister met with the highest authorities of the credit institutions in Greece, before the Eurogroup. The aim was to iron out differences regarding the latest proposals of Athens to make it possible that the finance ministers of the eurozone give their approval.
At the entrance to the Eurogroup, finance ministers who agreed to speak to journalists proved reserves regarding an agreement between Greece and creditors was reached on Wednesday.
After the Monday, June 22, the president of the Eurogroup, Jeroen Dijsselbloem, have said that the proposal presented by the Greek Government was “a step in the right direction,” this morning, the Prime Minister Alexis Tsipras warned that the creditors rejected the proposals made by Athens on Monday. The Wall Street Journal cites a document drawn up by the creditors where it is detailed what is causing the gap between the two parties.
According to the American newspaper, lenders do not accept an increase as sharp in IRC. The Government intends to raise the rate of 26% to 29%, fitting EUR 410 million in 2016. However, lenders want a milder increase, to 28%.
The lenders are also against the introduction of a special rate of 12% in corporate profits above 500,000 euros. Athens provides a measure that can generate a cash inflow of 1,350 million euros.
Also on VAT reform there are substantial differences. According to the document quoted by the WSJ, lenders insist on measures that represent a revenue increase equal to 1% (the Greek proposal reaches 0.74%), demanding why more goods and services (such as catering) to pass the maximum rate of 23%.
(Last updated news to 21h11)
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