Posted on 07/22/2015 11:33:07 AM PDT by 2ndDivisionVet
Reiterating what she said a week earlier after an initial solution to the Greek crisis had been found, Kopacz noted that any financial assistance for Greece would have to come exclusively from the European Financial Stabilisation Mechanism.
On Monday Greece received an approximately EUR 7 billion bridging loan to repay its debts to the International Monetary Fund (IMF) and its current installment to the European Central Bank (ECB). The new aid programme for Greece is in the region of EUR 82-86 billion.
“If it turns out that Greece is insolvent and will have to be given this loan, then the European Union countries inside the eurozone will pay back our EUR 200 million contribution. This means we won’t spend a penny,” Kopacz continued.
Under proposals from the European Commission, Greece will be given a EUR 7 billion loan for up to three months, to keep it solvent until a third full bailout is agreed.
Poland is one of the nine countries in the 28-member EU that is still outside the eurozone.
The Greek government on Tuesday submitted in the parliament the draft laws required by international creditors as a condition for starting talks on the multi-billion euro rescue package for Athens.
Prime Minister Alexis Tsipras has until Wednesday to push the necessary bills through in parliament. The first package caused a split in his left-wing Syriza party and was adopted with the help of votes from the pro-European opposition. The second package of bills, though less controversial, will be a test for the weakened majority.
It introduces, among others, a law on restructuring and orderly liquidation of banks, which states that in 2016 failing banks must first to pay their shareholders and bondholders. The second package also includes reform of civil judicial procedures aimed at accelerating administrative processes and reducing costs.
Europe needs to force Greece to sell of some of their islands...
Here’s an idea. Popularize the idea of zeroing all IMF loans and eliminating the institution. No need to repay cash to a place that does not exist. Free money for all debtor nations/a fresh start!
Sure, you;ll drive a few leftists to suicide but it’s all good.
Not like the EU would allow Greece to lower taxes or anything like that, so they could have a chance to pay off some of those loans, attract businesses to actually employ people (oh noes; can’t have industry leave the “big countries” of the EU!) or other such egregious deviations from the “social market economy”.
to who? Isis? Germany? does that include the oil drilling rights the germans want to control?
The EU is not a dream, it is a delusion. Germany just forced a loan on 200% loan to GDP. The only way out is to write off the 75% of the debt and for Greece to dump 1/2 its government employee bloat and slash taxes.
Okay. But what about oil?
“On Monday Greece received an approximately EUR 7 billion bridging loan to repay its debts to the International Monetary Fund”
A loan to repay a loan - cool!
Then how come my credit card company won’t let me pay the bill with the credit card?
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