BRUSSELS (MNI) – Several members of the Eurogroup raised objections
Thursday night to the staff agreement presented by Greece’s official
lenders, because it was inconclusive, Greek Finance Minister Evangelos
Venizelos said in the pre-dawn hours of Friday morning.
Speaking at a press conference after the end of the Eurogroup
meeting here, Venizelos said it was “unfortunate that the Eurogroup did
not take a decision on the second [bailout] loan, which is linked with
the successful conclusion of the [private sector debt swap] program.”
He added: “The Eurogroup did not take any decision today because
there were objections from many countries that we did not fully conclude
the fiscal consolidation program with the troika, since E325 million
worth of spending cuts is still missing.”
The so-called troika includes inspectors from the European
Commission, the European Central Bank and the International Monetary
Fund.
Venizelos went on to say that the Eurogroup took it seriously that
the Greek party leaders had not given a “written, concrete and
unhesitating commitment to support the new economic program.” Such a
written commitment by all the major party leaders was a laid down by
Greece’s European partners as a condition of securing the new rescue
package.
“By next week our country must think and make a final strategic
decision. If we want to remain in the Eurozone we must do everything
possible to approve the new plan and launch [the private sector debt
swap] within the required timeframe,” Venizelos told reporters, striking
a dramatic tone.
“If our country favours a different policy that will lead us
outside the Eurozone, then we must say it directly. The time for vague
statements has passed,” the minister declared. “It is a time of hard
decisions. We must choose between hard and harder decisions. We have to
choose between sacrifices and even bigger, graver sacrifices.”
Venizelos said he will be briefing Greek party leaders, the
parliament and the public in detail on the outcome of the Eurogroup
meeting.
Eurogroup President Jean-Claude Juncker said Thursday night that
there would be another Eurogroup meeting next Wednesday, presumably to
approve the overall Greek package, as long as Athens takes all the steps
it needs to by then.
“Everyone should have a clear picture before taking the decisions,”
Venizelos exclaimed. “What we must do by Wednesday is a strategic step
for the years to come.”
–Brussels Bureau, Angelika Papamiltiadou; a_papmiltiadou@hotmail.com
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