Greece officially requested an extension of credit. The government will … – Gazeta.pl

Greece officially requested an extension of credit. The government will … – Gazeta.pl

The President of the Eurogroup Jeroen Dijsselbloem confirmed that the eurozone has received from the Greek government request to extend by six months the international aid program for the country.

After the presentation of the Greek proposal is to hold a meeting of the working group of the euro area, and when the application is positively assessed, may the next meeting of the Eurogroup.

Eurozone countries gave on Monday to Friday Greece time to bring forward an extension of the current aid program, warning that otherwise the country will not receive further loans. In the years 2010-14 Greece received from the European Union and the International Monetary Fund 240 billion euros in rescue programs, which spared it from bankruptcy.

However, the compromise?

The new leftist government did not want to extend the Greek bailout, expiring February 28, rejecting the associated conditions for the austerity policies.

Greek Prime Minister Alexis said Cipras Tuesday that his government will not be blackmailed partners in the euro area; stressed that Athens working on a new, “fair and mutually beneficial agreement,” but that is not making concessions. He assured that his party – SYRIZA – intends to keep promises and end up with a savings program imposed on Greece by the EU and the IMF in exchange for financial assistance.

Cutting spending

Meanwhile, the German Ministry of Finance indicated that the extension of the financial support for Greece requires that the Greeks had requested an extension of the “current assistance program” and that Athens must fulfill specific conditions , imposing spending cuts and implement reforms to which they are committed.

The European Commission’s Vice-President. Euro Valdis Dombrovskis estimated that protracted discussions on extending aid program for Greece cause “worrying trends” in the markets. He added that the Eurogroup is waiting for a request from Greece on the program. – We need to see on paper what exactly will ask the Greek government. Then we will be able to comment – Dombrovskis said.

According to him it should be explained what is meant by the term “credit agreement”. He stressed that during the meeting of the eurogroup, it was clear that the eurozone needs from Athens to requested that the entire aid program – together with the conditions upon which the assistance.