Belgian Finance Minister

Economy of the Eurogroup ministers fail to reach an agreement after nearly seven hours of meeting in Luxembourg. They say they need before a clear commitment to the Greek Parliament. Expected diesen green light to the payment of the fifth tranche of the current 110,000 billion bailout, which will oscillate between 12,000 and 18,000 million euros. Greeks vote in rrendum political reforms. The euro zone finance ministers closed at dawn on Monday without agreement the meeting intended to unlock the fifth tranche of the bailout to Greece, as the Spanish Minister of economy and finance, was confirmed by Elena Salgado. It has been impossible to decide today on the disbursement, the Belgian Finance Minister, Didier Reynders, in statements to the press, said once the Eurogroup concluded its extraordinary meeting in Luxembourg, after nearly seven hours of negotiations. It was impossible to make a decision because we first need a clear decision by the Greek Parliament.

At the beginning of July we will decide, and organize the disbursement in the middle of that month, Reynders said. I can not imagine not for a second that we can commit to finance Greece without a commitment of the Greek authorities with the program, said for his part the President of the Eurogroup, Jean-Claude Juncker. In this meeting, expected that Ministers give green light to the payment of the fifth tranche of the current rescue of 110 billion approved for the country hellene, a stretch that will oscillate between 12,000 and 18,000 million euros. In principle, negotiation had been cleared of its biggest obstacle after the Pact reached last Friday between France and Germany on the participation of private banks. Agreement on the private sector about the involvement of the private sector, Juncker said that in this respect progress has been very NET with respect to the last few weeks, because, he said, the Eurogroup has accepted the Franco-German agreement of opting for a voluntary participation. Elena Salgado was considered, in turn, it would have been desirable that (the money) was today but explained that, in his view, have it ready in July is sufficient. Said it the IMF and us also, Salgado stressed.

No quantity is put in question the. But this disbursement is not approved until certain conditions have not been studied for the new program, that session of Parliament has not been conducted and the Greek authorities are not committed to the participation of private voluntary sector, said the Spanish Minister. The communique adopted by the Ministers explained that it will seek the participation of sector private so that Greek creditors sign an informal and voluntary new debt of the country depending on whether you beating they have in portfolio, avoiding a selective suspension of payments to Greece.


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