Friday, July 10, 2015

Greek proposals 'serious' and 'credible' (Francois Hollande)

French President Francois Hollande has said the proposals from Greece on reforms in return for new aid from international creditors are "serious" and "credible" but "nothing is decided yet".

Mr Hollande said: "The Greeks have shown a determination to want to stay in the eurozone because the programme they are presenting is serious and credible," and added "the coming hours will be important".

Eurozone leaders will study the details of the plan tomorrow before a summit of EU leaders is expected to take place on Sunday.

  • However, Eurogroup president Jeroen Dijsselbloem said a "major decision" could be made tomorrow and described the Greek proposal as  a "thorough text".
  • "Broad support in Greece gives it more credibility, but even then we need to consider carefully whether the proposal is good and if the numbers add up," he told reporters.

"One way or the other, it is a very major decision we need to take."

Meanwhile, the heads of the key creditor institutions will hold a conference call at 12pm, where they are expected to make a first assessment of the plans sent to Brussels last night, EU sources said.

French Economy Minister Emmanuel Macron has said he is "reasonably optimistic" on the possibility of the eurozone reaching an agreement with Greece.

"I believe that major advances have been made in the last few days," said Mr Macron in Madrid, the day after Greece submitted its new proposals to creditors.

  • "The level of the reforms are in line with what was expected," he said, adding that it made him "reasonably optimistic."

Greek Prime Minister Alexis Tsipras has appealed to his Syriza party to back a fiscal plan in return for aid from creditors, a government official said, in a last-ditch attempt to stave off financial meltdown.........................http://www.rte.ie/news/2015/0710/713820-greece-economy/

9/7/15
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