Athens Greece’s creditors are proposing EUR 12 billion of additional aid – Puls Biznesu

European lenders suggest that the sum will be transferred to Athens until November; The International Monetary Fund loan dołożyłby to EUR 3.5 billion.

The creditors are also willing to immediately give Greece an emergency loan of 1.8 billion, “as soon as the Greek parliament will adopt a resolution on the agreement with the institutions” – According to a document, which is invoked by AFP.

This sum would allow Athens to avoid insolvency, since the end of June Greece must repay the IMF loan installment of € 1.6 billion.

30 June also expires international aid program for Greece at risk of bankruptcy. Without an agreement with creditors Athens will not receive the last tranche of this program – 7.2 billion. Without those measures Greece will not be able to fulfill its financial obligations.

The German Finance Minister Wolfgang Schaeuble said on Friday that the chances of an agreement with Greece in that period, “it estimates at about 50 percent.”

Schaeuble also spoke critically about the latest reform proposals, which presented the Greek authorities, stressing that they focus excessively on raising taxes, and too little on cutting government spending.

Berlin and other lenders to Greece concerned about such a concept reform because it threatens stifling economic growth.

The German minister, who appeared at the Institute of Finance in Frankfurt, the global association of financial sector companies, was awarded ovation when he said: “30 June, This 30th of June. And not 1 July “, implying that the creditors are not willing to renew stretching from February negotiations with Athens.

The German taxpayers and financial circles are tired of both discussions with the Greek government, as well as financing further aid packages for Athens – writes AP.

The left-wing Greek government argues in negotiations that he had been democratically elected based on promises to break with the policies of drastic reforms and savings, which the Greeks imposed creditors, namely the International Monetary Fund, The European Central Bank and the European Commission.

“Yes, the Greek government was democratically elected (…). But I have to remind him that even my government was elected democratically. We have a lot of democratically elected governments in Europe “- said Schaeuble.

The next meeting of the Eurogroup on Greece – the fifth in less than 10 days – begin on Saturday in the chair. 17 in Brussels – EU sources reported.