Log in
A+ A A-
latest youtube videos subscribe ORIGINAL
22ndannualcapital

Crucial 48 hours for negotiations

A new round of negotiations between the Greek staff ministers Tsakalotos and Stathakis and Heads of Institutions starts today with running against time and liquidity.

It is still uncertain whether the extraordinary meeting of the Eurogroup will take place on Maundy Thursday. If there is no convergence within the next 24-48 hours, lenders will depart by Friday from Athens to return again in the first days of May.
Time now is an "enemy" of negotiations not only because from mid-May the EU's attention turns to the issue of Brexit, but also because most of the cash needs of the Greek public grow immesurably because of the refugee issue.
The "cases" of gathering liquid holdings of Hospitals, OAEE, EOPYY, parliament and other government entities will multiply if there is no "white smoke" in the negotiations and competent sources speak of more limited timeframe. And this is because of the daily expenditure payment needs related to the refugee issue, which were not foreseen.
Other sources speak however, of an effort to "swell" the issue of the liquidity problem on a communication level during the negotiation in order to exempt costs for refugees from primary surpluses.
Yesterday's first day "summit negotiations" in Athens after the Eurogroup on Friday had as main theme the legal "vehicle" for a precautioaryn 3.6 billion euros. With the presence of legal experts an attempt was made to make it clear to lenders that the Greek Parliament may not legislate proactively.