The draft Varoufakis nearly signed, which is claimed to have been offered by Moscovici

by Paul Mason Draft Eurogroup Statement on Greece The Eurogroup reiterates its appreciation for the remarkable adjustment efforts undertaken by Greece and the Greek people over the last years. Over the last week the Eurogroup and the institutions have engaged in an intensive dialogue with the new Greek authorities. The Greek authorities have expressed their strong commitment to a broader and deeper reform process aimed at durably improving growth and employment prospects, enhancing social fairness and ensuring stability and resilience of the financial sector. In particular the Greek authorities commit to implementing long overdue reforms to tackle corruption and tax evasion, and improving the efficiency of the public administration. At the same time the Greek authorities reiterated their unequivocal commitment to honour their financial obligations towards all their creditors. The Greek authorities will make the most efficient use of the continued provision of the technical assistance. We discussed the policy priorities of the new government on the basis of work undertaken by the institutions and the Greek authorities. We welcomed that in a number of areas the Greek policy priorities can contribute to a strengthening and better implementation of the financial assistance programme and can serve as the basis for a new arrangement. The Greek authorities intend to make the best use of existing built-in flexibility in the current programme as work commences on the new arrangement. They will work closely with their European and international partners to secure agreed parameters for structural reforms. The Greek authorities agree to ensure appropriate primary fiscal surpluses and financing in order to ensure debt-sustainability. Any new measures will be funded and will not endanger debt sustainability or financial stability.(1) The above forms the basis for a request to extend the current loan agreement, taking the form of an intermediate step to a new arrangement, that will be discussed and decided during this period of six-months. We also agreed that the IMF would continue to play its role in this agreement. The Eurogroup is favorably disposed to such a request by the Greek authorities. Moreover, we were informed by the EC, the ECB and the IMF that it would be prudent to extend the availability period of the EFSF bonds in the HFSF buffer for six months, in parallel to the extension of the EFSF programme. The Eurogroup looks favorably at such an extension. Following a request by Greece, the EFSF can make the necessary arrangements. The Eurogroup emphasizes that these funds can be used for bank recapitalization and resolution costs and will only be released on the basis of an assessment by the institutions and a decision of the Eurogroup. We remain committed to provide adequate support to Greece until it has regained full market access as long as it honors its commitments within the newly-agreed framework. Possible points to give: 1) Refrain from uni-lateral actions with net fiscal implications

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